Thailand unveils relief measures to counter rising energy prices

Bloomberg

Thailand will freeze retail diesel prices and subsidise cooking gas prices for the low-income groups, part of a raft of measures unveiled to provide relief to consumers hit hard by soaring energy prices.
Retail diesel prices will be capped at 30 baht ($0.9) a liter till the end of April, PM Prayuth Chan-Ocha told reporters after a cabinet meeting in Bangkok. Beyond April, the government will only subsidise 50% of any increase in prices as the Southeast Asian nation is facing a high fiscal burden, he said.
Thailand, a net oil importer, is stepping up efforts to shield the nation’s low-income groups from the impact of the highest inflation in 13 years as the Russian war in Ukraine pushes up energy prices. The government will take steps to help all sections of the society and ensure the nation emerges from the crisis without anyone being left behind, Prayuth said, adding economic recovery efforts will focus on boosting trade and investment and tourism rebound.
“We are now dealing with health and war issues. It’s a double whammy,” Prayuth said. “The government is working hard to help as many people as possible so that we survive this twin crisis.” Prayuth’s government has pledged to boost state oil reserves, slashed excise duty on diesel and lowered the bio-fuel blending requirements temporarily to provide relief to consumers and businesses, still reeling from the pandemic.