Manoon Siriwan, an energy expert, forecast that the global price of oil will be over US$500 per tonne in the second quarter .

The Energy Fund Administration Institute (EFAI), under the Energy Ministry, stated that the net value of the Oil Fund currently stands at Bt32.143 billion. The oil account value amounts to Bt38.273 billion while the LPG account is at a deficit of Bt61.3 billion.

Manoon said LPG demand will continue to increase in the second quarter due to hotter weather as reflected in the rising global oil prices.

However, he said oil price will not increase significantly from the current level. In March, global oil price stood at $500 per tonne.

Hence, the government will need to utilise the Oil Fund to fill the gap between LPG household price and the global price, he said.

The government currently has a policy to fix the price of LPG at Bt363 per 15 kilogrammes. Since March 15, the government has invested Bt6 billion in support of the policy.