Galloping inflation hits recovery hope: Energy costs pushed headline rate to 5.28% in February. The Commerce Ministry expects headline inflation in March to stay at a high level, driven by a rise in energy prices after the cost of fuel and electricity accelerated in February at the fastest pace since 2008. Bangkok Post
Department of Energy Business reports Jan 22 fuel usage +20.9% yoy, benzene +11.8%, diesel +24.4%, Jet A1 +75.5%, kerosene +2.8%, bunker oil +40.8%, LPG +11.7%, NGV -2.7% yoy.
State slashes excise tax on fuels used by Egat: Move to cut power bills for six months. The cabinet yesterday approved cutting the excise tax on diesel and bunker oil used to generate electricity by the Electricity Generating Authority of Thailand (Egat) to zero in a bid to lower electricity bills for six months. Bangkok Post
Cabinet okays easing levies on digital assets: The cabinet agreed to ease tax regimes yesterday for investments in digital assets in a move to promote the digital economy. Bangkok Post
TAT unfazed by warning to Americans over Thailand: The level 4 alert issued by the US Centers for Disease Control and Prevention (CDC) against Thailand shouldn’t create a huge impact on tourism as the sector is already weak, according to Tourism Authority of Thailand governor Yuthasak Supasorn. Bangkok Post
National Energy Policy Committee (NEPC) has resolved to lift borrowing limits of the state Oil Fund to allow for management flexibility and approved guidelines to address surging fuel price, to peg diesel price below Bt30 as long as it can.
Covid will be labelled an endemic disease starting in July, allowing people to return to a normal life, Public Health Ministry.
Fuel stockpile raised as crisis continues: The government has instructed oil companies to extend the stockpiling of the country’s oil reserves from 60 to 70 days to help offset any future oil crisis, Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow said yesterday. Bangkok Post
Manufacturers urge continued diesel subsidy: Manufacturers will struggle to maintain their goods prices for another 3-6 months amid the Russia-Ukraine war, but they insist the government continue to cap diesel prices at below 30 baht a litre, says the Federation of Thai Industries (FTI). Bangkok Post
Japan plans to provide a soft loan of US$500m to Thailand to mitigate the impact of the pandemic, says director-gen of the Public Debt Mngt Office (PDMO).
