PRIME MINISTER Anutin Charnvirakul last night (March 27) warned the public oil prices could rise again after jumping by 6 baht a litre with this determined by market mechanisms while emphasising that Thailand is striving to ensure domestic fuel security and there will not be a shortage, Amarin TV said.
Excessive subsidies would deplete the national budget and more importantly lower prices would spur smuggling to neighbouring countries and hoarding with this being why oil prices are being kept at global market levels, he explained.
All countries must accept higher oil prices, and within Association of Southeast Asian Nations (Asean), Thailand ranks among the countries where oil prices are comparatively lower, with these prices even being higher at neighbouring oil-producing countries.
That fuel prices could rise further is due to the volatile situation in the Middle East which is changing daily but what Thailand has accomplished is ensuring the country does not run out of oil as it is utilising its ability to procure crude oil supplies.
Anutin mentioned that PTT Plc has just been instructed to procure refined oil, specifically diesel, for sale to Laos while storing what it refines itself within the country.
“This is to further reassure the public that there are no problems in selling 5 million litres a day oil to Laos. To further boost confidence as the situation may drag on, we will negotiate with refineries not under government supervision to import diesel and transship it to Laos.
“We have already discussed and agreed on a competitive price and we are not taking excessive profits. Importantly, as much as possible of the oil refined by Thai refineries will be stored in Thailand, increasing domestic diesel supply,” he said.
He reassured the public that there will not be an oil shortage while explaining that the price was initially subsidised for 15 days to prevent a ripple effect even though some critics had said this was not necessary.
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Top and Front Page – Prime Minister Anutin Charnvirakul. Photos- Amarin TV
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