After a recent drop in global energy prices, the Ministry of Energy has indicated that it will alter energy tariffs to reflect genuine costs without affecting people’s cost of living.
The ministry also urged political parties to refrain from adopting unrealistic energy pricing plans that might harm Thailand’s energy infrastructure and budgetary discipline.
The continuous war between Russia and Ukraine, according to Phisut Phienmonkun, Secretary to the Ministry of Energy, is producing unpredictable energy prices, triggering an economic crisis in certain nations and affecting Thailand’s domestic energy market.
Many steps have already been announced by the ministry to aid the public at this time, including cutting marketing margins for oil merchants, offering oil price subsidies from the Oil Fuel Fund, and lowering gasoline taxes.
With energy prices already declining, the ministry intends to alter pricing to reflect genuine costs while avoiding future budget concerns.