Oil excise taxes raised back to pre-July levels
The Cabinet on Wednesday gave the greenlight to the increase of excise taxes on petrol and diesel, to encourage the public to save energy.
The decision will take effect on Feb 1.
Among the six energy-saving measures approved by the Samak government, the Abhisit government decided to scrap the excise tax cut.
As a result, the excise taxes on all fuel products would return to the pre-July 2008 level.
Excise taxes on petrol would reach the limit of Bt5 per litre from Bt3.685-Bt4.685, while that of diesel would be Bt3.6-Bt4 per litre from Bt0.005-Bt2.405. Meanwhile, the tax on gasohol E85 is cut to Bt0.75 from pre-July level at Bt2.5795, while that of gasohol E10 and E20 is raised to Bt3.317. Biodiesel B5's tax is maintained at Bt2.19.
Finance Minister Korn Chatikavanij said that these measures would promote alternative energy and agricultural products as well as reduce crude oil imports.
"The government should earn additionally Bt1.572 billion from these measures," he said.
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