Bangkok:Energy Minister Ekanat Promphan has addressed inaccuracies in the fuel consumption data presented by Korn Chatikavanij and the Democrat Party, emphasizing the need for structural reforms in oil pricing.
According to Thai News Agency, Ekanat responded to Korn's statement opposing tax reduction measures on B20 and E20 biofuels. Korn argued these fuels are insufficient to alleviate public burden and urged addressing refined oil pricing, tied to the Singapore market, and rising refining margins.
Ekanat corrected the average fuel consumption figures for October, stating B7 diesel was consumed at 52 million liters per day, not 67 million liters; B20 at 6 million liters, not 3 million; and Gasohol 95 and 91 E10 at 23 million liters, with Gasohol 95 E20 at 6 million liters daily.
He highlighted the potential to increase biofuel use, boosting domestic agricultural products like palm oil and sugarcane, reducing crude oil imports. Ekanat also noted ongoing efforts to restructure oil prices, auditing costs to reduce the ex-refinery price by 2-5 baht per liter, recently by 4 baht, saving about 30 billion baht to curb diesel price hikes.
The Ministry of Energy is tackling hidden costs in the oil pricing structure, aiming to save over 10 billion baht annually. These structural reforms, including tax measures for biofuels, aim at fairness and supporting biofuel-producing farmers, with the excise tax issue under joint consideration with the Ministry of Finance.