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Acceleration of diesel price hikes needed: Part of plan to save energy.
Byline: Wichit Chantanusornsiri
Jul. 4--Diesel prices, originally set to fully float at the end of the year, are likely to be hiked faster than previously planned as policymakers begin to acknowledge that action is needed to bring down oil consumption in light of the country's deteriorating trade and current account deficits.
The government in late May announced that the fuel subsidy programme started in January 2004 would be fully phased out by early 2006. While petrol prices were fully floated last October, diesel prices remain partly subsidised, with total losses incurred by the state oil fund reaching 91 billion baht as of July 1.
Diesel prices were increased eight times last ...
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Source: HighBeam Research, Acceleration of diesel price hikes needed: Part of plan to save...