The committee, chaired by Energy Minister Anantaporn Kanjanarat, agreed to let NGV’s pump |prices within 50 kilometres of Bangkok reflect NGV’s true cost.

The price will be reviewed on the 16th of every month.

For the next six months from today to July 15, it will seek PTT’s cooperation to keep the retail price of NGV for passenger vehicles at Bt13.50 per kilogram and to lower it when the cost comes down.

The NGV price for public passenger vehicles stays at Bt10 per kilogram.

On the LPG policy, the committee approved a schedule for opening up the market to allow more importers of LPG than PTT, which is the sole importer at present. It will monitor the results before liberalising the market fully in 12 months to give LPG traders – including petroleum refineries and importers – time to prepare.

According to the schedule, PTT has to allow its LPG infrastructure, including its jetties and storage depots, to be used by other importers. Cancelling the transport subsidy for regional depots has also been proposed.

The committee resolved to increase the Oil Fund’s levy on petrol, E-10 gasohol and high-speed diesel by Bt0.60 a litre in a bid to reduce the marketing margin of oil companies to an appropriate level and to pave the way for an increase in the excise tax on refined oil products in the future.

The adjustment will give the Bt42.2-billion Oil Fund an additional Bt1.15 billion stream of income per month.