B · Normal
[Thailand plans to lower biofuel tax to reduce crude oil imports] On October 7, the Thai government is considering lowering the biofuel consumption tax to lower prices and stimulate consumption. Ministry of Energy spokesman Pongpol Yodmuangcharoen said at a press conference on Wednesday that the Ministry of Energy and the Ministry of Finance are formulating a tax reduction plan. Pombol said biofuel is made from gasoline or diesel mixed with biomass fuel and can be produced locally at low cost. The excise tax on biogasoline and biodiesel is approximately 6 baht per liter. Expanding the use of biofuels will help reduce crude oil imports and relieve the pressure on government fuel subsidies.
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