Bangkok, 'Piraphan' sets up a system to control oil prices to prevent excessive profit trade. Add criteria for 'merchants' to prove costs with clear evidence at every step before requesting compensation. Mr. Peeraphan Saleerathaviphak, Deputy Prime Minister and Minister of Energy, chaired the meeting of the committee to establish an oil and gas reserve system for strategic stability. and the system for maintaining the price level of fuel and gas, No. 14/2024, to consider guidelines for establishing an oil reserve system for strategic security or SPR (Strategic Petroleum Reserve) of Thailand, along with providing policies regarding guidelines for regulating oil prices to be consistent. Ethics and prevention of excessive profit making In this approach, the state will set the average price or Benchmark, while fuel traders will have to bring various evidence to prove the true cost. Both evidence at the Customs Department Evidence at the National Bank Evidence at a commercial bank Including evidence shown to the Revenue Department To request compensation from the Fuel Fund in the case of loss from sales at the price set by the state. 'Today we have to sit and wait for information from vendors. But in the future, traders Must prove where the loss is? how? with evidence that must all match Both evidence at the Customs Department Evidence at the National Bank Evidence at a commercial bank and the evidence shown to the Revenue Department must all match. If it doesn't match, it's considered a problem and it doesn't pass. If it doesn't pass, the royal price is used. For example, we calculate the benchmark at 84 coins if the government wants to compensate. It must be proven that Why is your price higher than the world market price? If it can be proven received compensation But if it can't be proven or not proven They said it was a secret and they just took it and didn't get compensated. That's it. I think it must be a system like this," Mr. Peeraphan said. As for the progress of setting up the SPR system, the meeting cons idered the study of fuel reserve studies in foreign countries and Thailand. Studying the suitability and feasibility of establishing an SPR system in Thailand, determining Thailand's fuel reserve rate and supporting infrastructure. including fuel reserve formats Fuel management mechanism Taking out fuel New organizational structure Establishment of the fund Management Supervising, monitoring and inspecting the amount of fuel reserves in accordance with the law. Initial action Transferring the missions of relevant agencies and drafting laws as well as providing reserve storage space. Source: Thai News Agency