Prime Minister Anutin Charnvirakul has instructed Energy Minister Akanat Promphan to find ways to reduce domestic fuel prices, saying lower oil costs would ease the cost of living and reduce business overheads nationwide.
Mr Anutin, also interior minister, said on Tuesday that the directive was prompted by the decline and subsequent stabilisation of global oil prices. Domestic pump prices should reflect the trend.
“The public is aware that global oil prices have fallen and are now relatively stable. Therefore, domestic retail prices should also be adjusted downward,” he said.
He said the government’s priority was to reduce household expenses and lower operating costs for businesses as much as possible.
“I simply told the energy minister, as an administrator of the government, that when global prices rose, we asked the public to accept higher domestic prices. Now that global oil prices have fallen, we do not need to ask the public for anything. We should simply cut prices immediately and by a meaningful amount, rather than making gradual reductions,” Mr Anutin said.
He said no deadline had been set for the price cut, as the Energy Ministry would need to follow the procedures of relevant committees, including the Oil Fuel Fund Management Committee.
Asked about food prices, which fall under the Commerce Ministry’s responsibility, Mr Anutin said Deputy Prime Minister and Commerce Minister Suphajee Suthumpun had already been assigned to oversee the matter.
The prime minister said the government remained committed to lowering daily living costs, adding that cheaper fuel would help reduce transportation costs and eventually bring down the prices of goods.
The government would continue its low-cost Blue Flag retail programme and price-control measures for essential goods. The Thai Chuay Thai Plus (Thais Help Thais Plus) co-payment scheme would also help reduce household expenditure, he said
Responding to a question about inflation, Mr Anutin said the government would continue pursuing a broad range of economic policies, stressing that it was focused not only on economic indicators alone but also on improving people’s quality of life.
Source: Bangkok Post