BANGKOK, May 1- Good news on Labor Day. Board of Directors announced the fifth round of diesel price reductions by 50 satang to 32.50 baht/liter, effective from May 4, 2023.

Mr. Wisak Wattanasap, director of the Oil Fund Office, revealed that at the meeting of the Oil Fund Executive Committee (KorPor.) on April 28, 2023, there was a resolution to reduce the retail price of diesel fuel by 0.50 baht per liter from 32.94 baht. per liter to 32.44 baht per liter, or reduced to 32.50 baht per liter, effective from May 4, 2023 onwards, which is the fifth decrease or total reduction of 2.50 baht per liter since February.

The reason for this decrease was the average diesel price in April 2023 at $ 97.12 per bar. which is not much different from March at 98.92 US dollars per barrel. The rate charged to the fuel fund in the type of diesel fuel. The average in April 2023 is 5.00 baht per liter.

However, the global diesel price situation remains volatile due to the economic recession. financial crisis US dollar volatility as well as the economic recovery of China

As for the oil fund's position, it began to gradually decrease as of April 30, 2023, with a negative of 82,612 million baht, divided into a negative of 35,822 million baht from the oil account and 46,790 million baht from the LPG account.-Thai News Agency

Source: Thai News Agency