ID :
189290
Fri, 06/17/2011 - 15:12
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http://m.oananews.org//node/189290
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Price of LPG for Thai Industries to rise by Bt3/kg
BANGKOK, June 17 (TNA) - The Thai Ministry of Energy has announced that the price of liquefied petroleum gas (LPG) for the local industrial sector will be raised by 3 baht per kilogram, effective from July 1, 2011.
Thai Permanent Secretary for Energy Nokun Sitthipong confirmed that his ministry's Energy Policy Committee made the decision at its latest meeting this week, noting that after the adjustment, the state oil fund will reduce its monthly subsidy for the LPG for local industries by some 120 million baht. Thai industries now rely on a total of about 40,000 tonnes of LPG a month.
Nokun said, however, that the price hike will only be applied for industrial LPG, not for LPG for local transport and households which will remain at 18.13 baht per kilogram after July 1, and that his ministry will make sure that there will be no manipulations of LPG supply in the country, namely hoarding or siphoning between sectors for profiteering, by local business operators.
According to the senior official, the Thai government's state oil fund will lose some 41 million baht in revenue per day, as the Energy Policy Committee has resolved to cut a contribution to the fund from domestic diesel sales by 40 satang per liter, to only 70 satang per liter, effective from June 16.
If the price of the Dubai crude oil would not hike to 130-140 US dollars per barrel but remained at some 110 US dollars per barrel, the official said, the Thai government's state oil fund needed not to borrow more money to finance its fuel subsidy until September 2011, as the fund has invested some five billion baht in a 5-year-maturity special saving bond issued by the Government Savings Bank. (TNA)
Thai Permanent Secretary for Energy Nokun Sitthipong confirmed that his ministry's Energy Policy Committee made the decision at its latest meeting this week, noting that after the adjustment, the state oil fund will reduce its monthly subsidy for the LPG for local industries by some 120 million baht. Thai industries now rely on a total of about 40,000 tonnes of LPG a month.
Nokun said, however, that the price hike will only be applied for industrial LPG, not for LPG for local transport and households which will remain at 18.13 baht per kilogram after July 1, and that his ministry will make sure that there will be no manipulations of LPG supply in the country, namely hoarding or siphoning between sectors for profiteering, by local business operators.
According to the senior official, the Thai government's state oil fund will lose some 41 million baht in revenue per day, as the Energy Policy Committee has resolved to cut a contribution to the fund from domestic diesel sales by 40 satang per liter, to only 70 satang per liter, effective from June 16.
If the price of the Dubai crude oil would not hike to 130-140 US dollars per barrel but remained at some 110 US dollars per barrel, the official said, the Thai government's state oil fund needed not to borrow more money to finance its fuel subsidy until September 2011, as the fund has invested some five billion baht in a 5-year-maturity special saving bond issued by the Government Savings Bank. (TNA)
