The move is awaiting Royal Gazette endorsement. Then the LPG price will be raised by Bt3 per kilogram each quarter.
Outgoing Prime Minister Abhisit Vejjajiva signed the Energy Ministry order for the price flotation policy on July 1.
Yesterday, the Energy Policy Administration Committee also agreed to reduce the contribution to the Oil Fund by diesel traders by 60 satang per litre. The reduction is in line with the increase of the crude-oil price in the world market by US$3.18 per barrel. The decision will allow traders' margin to reach Bt1.14 instead of 54 satang per litre.
The strategy will prolong the controlled retail price of diesel at Bt29.99 per litre.
Norkhun Sittipong, permanent secretary of the Energy Ministry, said yesterday that money flowing into the Oil Fund would drop from Bt82 million to Bt49 million per day. The Oil Fund reports a negative value of Bt1.13 billion.
There have as yet been no details on Yingluck Shinawatra's announcement at a political rally during the just-concluded election campaign that her government would abolish the Oil Fund. The Energy Ministry has to wait for the new government's energy policy.
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