Energy Minister Pirapan Salirathavibhaga calls for overhaul of the retail oil price structure, citing unfairness to consumers due to frequent price fluctuations and financial burden.
Energy Minister Calls for Overhaul of Retail Oil Price Structure
Energy Minister Pirapan Salirathavibhaga said today that the retail oil price structure, which has been in force for about three decades, needs to be overhauled because it is unfair to consumers.
He pointed out that pump prices for several oil products have been on the rise in the past few days, after the Energy Ministry announced price cuts on November 7th, such as 80 satang per litre on E20 and E85 fuel, 2.50 baht/litre on gasohol 91 and 1 baht/lire on gasohol 95.
Challenges in Controlling Oil Prices
According to Pirapan, oil traders keep adjusting pump prices, in tandem with global crude oil prices, on almost daily basis, making it difficult for the state to control the prices and adding to the financial burden on consumers. He emphasized the need for stable domestic oil prices and the reconsideration and overhaul of the oil price structure. Although he acknowledged that changing the structure may not be easy, he expressed his determination to take action as the energy minister.