Bangkok, Gasoline oil prices. Prepare to move up again tomorrow (30 Jan.) according to world market prices. This month is only one month. It has risen sharply to 2 baht per liter, while on February 1, the Ministry of Finance did not renew the tax reduction for the gasoline group to 1 baht/liter. The Ministry of Energy used the mechanism of the Oil Reserve to take care of it instead. Reporters reported that The gas station group informed that this evening, most oil traders will announce an increase in the price of gasoline by approximately 50-60 satang/liter, effective January 31, 2024. This is the seventh round of price changes according to the world market in January. This was a price increase 6 times and a price reduction 1 time, with the past 6 times including a price increase of 2 baht/liter, which is a result of geopolitical conflicts. Tensions in the Middle East that may spread widely Most recently, Iranian-backed armed groups attack on US military base As a result, three US soldiers were killed and 3 4 injured, and members of Congress called on President Joe Biden to order an attack on Iran in retaliation. As for the end of the measure to reduce the excise tax on gasoline by 1 baht/liter, effective on January 31 and will return to full increase on February 1, 2024, the gas station group estimates that it will not have an effect on the price of gasoline because the Ministry of Energy has informed. It was already in advance that money from the fuel fund would be used to subsidize it instead of taxes. It's like moving left and right pockets to take care of you. However, at this time, gas stations are stocking gasoline at a level as high as 90 percent because it is expected that the price situation is still on the upswing in line with the world market. ' Oil marketing margins for both gasoline and diesel groups are negative. from what it should be Because the world market price has increased, at this time Shell has raised the advance price higher. Others are about 50-80 satang per liter. Because I can't sta nd the loss. When this happens, the Oil and Fuel Fund will have to come in and provide additional subsidies. Most recently, it was more than 84,000 million baht negative, consisting of more than 46,000 million baht for cooking gas subsidies and almost 38,000 million baht for oil price subsidies,' a news report from an oil trader stated. Mr. Prasert Sinsukprasert Permanent Secretary of the Ministry of Energy said that according to the Cabinet's resolution to reduce the excise tax rate on gasoline. In addition, the Ministry of Energy has measures to reduce the retail price of all types of gasoline. As a result, the retail price of gasoline will decrease from November 7, 2023 onwards. The said measure will end tomorrow (January 31, 2024), which the Ministry of Energy Held a meeting of Section 7 oil traders and asked for cooperation from gas stations throughout the country to prepare oil reserves. But because the Ministry of Energy will use the fuel fund mechanism to subsidize it so as not to affect the people. Therefore, people are asked to fill up with gas as usual. Don't worry about the price of oil increasing exponentially. Because if you refuel at the same time on the same day This may cause the amount of fuel to be filled abnormally to exceed the amount of fuel that the service station has prepared. There may be inconvenience to service users. 'After the excise tax measures for the gasoline group end tomorrow (January 31, 2024), the Ministry of Energy will use the fuel fund mechanism to support it instead. without affecting Ask people to fill up with gas as usual. However, oil prices may go up or down according to market forces. In addition, the Ministry of Energy has held a meeting of oil traders, Section 7, to emphasize that gas stations throughout the country Prepare a sufficient quantity of oil to meet the needs of the people. and asks people not to worry or go refuel together on January 31, 2024 because it may cause the demand to be higher than normal. If the people are not inconvenienced You can report it to the Department of Energy Business Complaint Center 02-794-4111 and the Ministry of Energy Complaint Center 02-140-6081,' said the Permanent Secretary of the Ministry of Energy. Source: Thai News Agency