Let’s go deeper into the Rabbit Hole of the Wonderland with a new thai invention : how to subsidize the end of a subsidy. 😉
The state Oil Fund will be required to spend around three billion baht to subsidise fuel prices after excise tax on fuel resumes in February, according to Energy Minister Wannarat Charnnukul.
The new subsidy programme will help motorists continue to enjoy low fuel prices even though the former government’s populist measures that waived excise taxes for gasohol and diesel since July were to finish by the end of January.
The Samak Sundaravej administration introduced the measure, aimed at containing the cost of living, during the oil price spike.
From Feb 1, the retail prices of gasohol 95 and gasohol 91 will rise by 3.30 baht per litre. Diesel will cost an extra 2.30 baht and diesel B5, a mixture of biofuel with diesel, an extra 2.10 baht per litre.
The precise amount of the new subsidy has yet to be established but it will cover only part of these costs from the return of excise taxes. (Bangkok Post)
Prime Minister Abhisit, busy loosing face by relocating the Asean Summit in Hua Hin, doesn’t want to displease Somchai at the wheels… So a little gift won’t hurt…
And probably after, he will find a subsidy for the end of the subsidy of the subsidy.
We are still waiting for a subsidy for intelligence.
But I guess, it would cost way too much.