Pump prices to rise only Bt1.55 per litre

Energy Minister Wannarat Charn-nukul, as chairman of the National Energy Policy Committee, said the committee resolved on Thursday to help delay the full increase in pump prices to alleviate consumers' burden. Meanwhile, pump prices could be raised by no more than Bt1.50 per litre in the subsequent round.

 "It should take about two months for the pump prices to be increased to match the higher excise taxes," he said, adding that the Oil Fund would need to spend about Bt3.5 to Bt4 billion to subsidise the prices. 

Without the Oil Fund's help, 91 and 95-octane petrol prices would rise by Bt1.55 per litre, gasohol 95 and 91 by Bt5.28, gasohol E20 by Bt4.69, diesel B2 by Bt3.88 and diesel B5 by Bt2.47.

Authorities will check stocks at all 18,787 oil stations on the eve of the hike to prevent hoarding.