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The Latest Breaking News from Oil Fuel Fund

Amid skyrocketing fuel prices, many people and even some politicians have begun to question the profits being made by private refineries. The issue angering critics and consumers is what is known as the gross refining margin, or GRM, of local oil refineries.

Bangkok Post

Refineries hit back at tax

A proposal to temporarily charge a tax on the oil refinery margin appears to be a last-ditch effort by the government to control soaring energy prices, but major refineries question the move aimed at trimming some of their profits.

Bangkok Post

Refinery contribution for oil fuel fund approved by cabinet

The cabinet on Tuesday agreed to seek financial sources from oil refineries to support the Oil Fuel Fund and to offer tax rebates to promote domestic tourism.

Bangkok Post

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Oil refiners deny Korn's claim of profiteering during hardship

Oil refinery bosses on Monday broke a long silence to deny Kla Party leader Korn Chatikavajin's accusation they are reaping fat benefits though the gross refinery margin while consumers suffer from high pump prices.

Bangkok Post

Explainer: Moving to curb pump prices

Lowering the gross refining margin is a top priority for the government.

Bangkok Post

Refinery stocks fall on concerns over fuel fund contribution

Oil refinery stocks fell sharply on Friday with potential losses of between 17-43% in net profits this year after the government asked for the cooperation of companies to channel their profits into the Oil Fuel Fund for three months from July to September to help control fuel prices.

Bangkok Post

Korn urges B60bn loan for Oil Fund

Korn Chatikavanij, a former finance minister and now leader of the Kla Party, suggested the government provide an additional 60-billion-baht loan to improve the liquidity of the Oil Fuel Fund.

Bangkok Post

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Cooking gas price to rise slowly

The Energy Policy Administration Committee (Epac) has decided to have the price of liquefied petroleum gas (LPG), which is used as household cooking gas, gradually increase over the next three months.

Bangkok Post

Govt eyes slice of refineries' pie

The government will consider using profits from oil refinery margins to help support the Oil Fuel Fund as it continues to subsidise fuel prices despite having slipped 85 billion baht into the red.

Bangkok Post

Diesel price up again on Tuesday

The board of the Oil Fuel Fund has raised the price cap on standard diesel by one baht, from 33.94 baht to 34.94 baht per litre, effective on Tuesday morning.

Bangkok Post

Oil refineries face state price cap

Energy authorities are considering imposing a price cap on oil sold by Thai refineries to better control energy inflation, with ongoing measures to tackle the problem scheduled to end this month.

Bangkok Post

Oil Fund to decide on diesel cap

The board of the Oil Fuel Fund is expected to decide on Monday if it will continue to cap the retail diesel price at 32 baht per litre for another week or raise it by one or two baht to relieve the burden on the fund, a source in the…

Bangkok Post

GSB ready to assist THAI, Oil Fuel Fund

The Government Savings Bank (GSB) stands ready to extend loans to Thai Airways International (THAI) and the Oil Fuel Fund to boost their liquidity if the government adopts a policy for it to do so, said GSB chairman Prapas Kong-Ied.

Bangkok Post

Diesel price capped at B32 for another week

The Oil Fuel Fund board on Monday decided to continue capping the retail price of standard diesel at 32 baht per litre for another week.

Bangkok Post

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Bangkok Post

Oil Fuel Fund seeks loan of B40bn

The Oil Fuel Fund has enough credibility for financial institutions to extend it loans to boost liquidity, enabling it to subsidise the domestic oil price, says deputy permanent finance secretary Theeraj Athanavanich.

Bangkok Post

Diesel cap per litre to stay at B32

The government will continue to cap the diesel price at 32 baht a litre thanks to the increased diesel excise tax cut of five baht a litre, says the board of the Oil Fuel Fund.

Bangkok Post

Diesel cap at B32 short-lived

The board of the state Oil Fuel Fund on Wednesday resolved to cap the retail diesel price at 32 baht per litre only until Sunday, and will review the price again on Monday, energy permanent secretary Kulit Sombatsiri said.

Bangkok Post

Oil Fuel Fund set to borrow billions

The Oil Fuel Fund is expected to finish negotiations with banks this month as it looks to borrow heavily to boost its liquidity, says the Finance Ministry's deputy permanent secretary Theeraj Athanavanich.

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Bangkok Post

Diesel to be capped at B32 per litre

The retail price of diesel in Greater Bangkok will remain capped at 32 baht per litre, as the government has tried to continue its energy subsidy measures to help alleviate people's hardship and reduce their cost of living.

Bangkok Post

Diesel users run into reality check

The government's decision to reduce financial pressure on its coffers by allowing the price of diesel to gradually increase starting from this month -- having been capped since October 2021 -- will result in households and businesses experiencing a harsh economic reality.

Bangkok Post

Offo to postpone end of biofuel subsidy

The Oil Fuel Fund Office (Offo) expects to delay a plan to end the biofuel subsidy for two years to give sugar cane, cassava and palm famers more time to manage their output.

Bangkok Post

Diesel price to rise to B32/litre Sunday

The retail price of diesel in Greater Bangkok will rise above the 30-baht capped price to 32 baht per litre this Sunday morning, according to the Oil Fuel Fund Office (Offo).

Bangkok Post

Hike in price of cooking gas hits pockets

The cost of cooking gas rose by one baht a kilogramme on Friday, and people called on the government to better control consumer prices as incomes remained stagnant or dropped.

Bangkok Post

Oil Fuel Fund set to be replenished next month

The Oil Fuel Fund Office (Offo) expects to obtain the first portion of loans as part of a total of 20 billion baht from commercial banks next month as its fund, used to subsidise energy prices, is nearly empty.

Bangkok Post

Oil price volatility demands tax rethink

We are living in a time of unprecedented oil price volatility. On Feb 8, the world oil price (WTI Crude) was a little less than US$90 (3,030 baht) per barrel (dpb), but a month later the price jumped violently to 124 dpb.

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