[NEW] Energy Resource Guide – Thailand – Oil and Gas | gasoline price in thailand – Sathyasaith

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Executive Summary

Southeast Asia is well on the way to achieving universal access to electricity by 2030. Since 2000, millions of new consumers have gained access to electricity. In Thailand, the country is 99% electrified utilizing a combination of domestic sources and imported natural gas. But in reaching this milestone electrification rate, Thailand now has to contend with a relatively new issue — namely, energy security.  

More than half of Thailand’s energy supply relies on imported energy sources, and this foreign dependence is likely to increase as known oil & gas reserves are depleted. This foreign dependence creates not only challenges to energy supply security but also has significant implications for Thailand’s overall energy costs. 
       
As a result, the Thai government has enacted new policies to effectively manage how the country moves forward with energy production and consumption. The country set a new target for renewable energy at 30% of the total final energy consumption by 2037 through its  Alternative Energy Development Plan (AEDP) 2015.
      
Under Thailand Ministry of Energy’s Power Development Plan (PDP) 2018, the country aims to increase its power generating capacity from 46,090 MW in 2017 to 56,431 MW during the years 2018-2037.  Meanwhile, there will be 25,310 MW of the capacity to be retired during the same period.  With this plan, the country projected to generate the power up to 77,211 MW by the year 2037.

Thailand Power Development Plan (PDP) 2018’s Projection of Energy Production from 2018-2037
 

Source: Thailand Ministry of Energy (MoEN) 

This new capacity of 56,431 MW mainly come from the increased capacity of renewable energy of 20,766 MW, MW, a combined cycle (EGAT/IPP) of 13,156 MW, a repowering/ replacing of 8,300 MW, power  purchased from the neighboring country of 5,857 MW, and energy conservation plans of 4,000 MW. 

Thailand has the potential to increase renewable energy utilization to as high as 37% of the total usage in its plan for 2037. To reach this gain, Thailand will need to invest significantly in the next two decades in its energy production infrastructure with cost-competitive of biomass technologies, hydropower generating capacity, solar photovoltaic (PV), and onshore wind-power.  Meanwhile, Thailand has projected that the demand for LNG will increase significantly in the next 5 years due to the country is trying to move away from coal and  lignite as sources of power.  The initiative under Gas Plan 2018-2037, Thailand’s demand for LNG will reach 30 million tons per annum (MTPA) by 2037, and the country aims to become the LNG hub for ASEAN. 
 

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Current Market Assessment and Profile

In 2019, Thailand’s final energy consumption was projected at 13,911,000 tons of solid fossil fuel, 52,628 million liters of petroleum product, 189,620 GWh of electricity, and 343,996 million standard cubic feet (MMSCF) of natural gas.  The country’s commercial energy consumption was 41% natural gas, 39% petroleum products, and 14% coal.  Meanwhile, hydro and import electricity and lignite were each 3% of the total energy consumption.  

The Department of Alternative Energy Development and Efficiency (DEDE) reported that the transportation sector consumed the most energy in 2019 at 39%, followed by the industrial sector at 36%, the residential sector at 14%, the commercial sector at 8% and the agricultural sector at 3%. Based on the Department of Mineral Fuels, Thailand currently has energy through 137 million barrels of crude oil (MMBBL) available for use in 3 years and 6,058 billion cubic feet of natural gas (BCF) available for use in 5 years. 

Thailand can rely on its internal energy sources to fulfill 70% of its need. Meanwhile, out of the other 30% is imported gas, where the country imported piped gas from Myanmar for 14% and imported LNG fulfills 16%. With the rising demand in LNG, Thailand now has a major storage station located at Map Ta Phut and another one under construction at Ban Nong Fab, Rayong Province.  Map Ta Phut Phrase III will also be the 3rd LNG Terminal.

With limited petroleum resources, the country needs an efficient and systematic management approach, equipped with supply management measures in parallel with consumption management measures to ensure an energy balance and long-term energy security. 

Fossil Fuel – Oil 

Thailand’s crude oil production capacity, reported by the Department of Energy Business, was 125,889 barrels per day in 2019 with a decrease in average growth rate by 2.6% y-o-y. 57% of its crude oil imports came from the Middle East (28,480 million liters), 15% from Fast East countries such as Malaysia, Indonesia, and Brunei (7,337 million liters), and 28% from other regions such as Russia and Australia (13,870 million liters). 

Demand and Supply of Crude Oil and Oil Production in 2019 (Barrels/Day)

Crude Oil (YTD)
Oil Product (YTD)
Oil Product (YTD)
Oil Product (YTD)
Oil Product (YTD)

Balance Throughput

1025195

Production

1557263

Supply

1791034

Consumption

1165928

Demand

1389987

Source: Department of Energy Business (DOEB) 

Thailand’s refinery is currently running at 69% capacity and is expected to reach 1,234 Thousand Barrels per day (KBD). PTT Global Chemical PCL (PTTGC) contributes 280 KBD, Thai Olefins PCL (TOC) 275 KBD, IRPC PCL (RPC) 215 KBD, ESSO 177 KBD, Star Petroleum Refining PCL (SPRC) 165 KBD, Bangchak Petroleum PCL (BCP) 120 KBD and Fang Oil Refinery 2.5 KBD. 

The total productivity of petroleum products within the country was 1,135,291 barrels/day. The sub-petroleum products consist of: 

  1. gasoline which includes gasohol, U95 and regular gasoline with the volume of 368,845 barrels day,
  2. diesel with the volume of 466,719 barrels/day, 
  3. fuel oil with the volume of 94,434 barrels/day and 
  4. LPG with the volume of 190,831 barrels/day  

Fossil Fuel – Gas

Based on an Energy Policy and Planning Office (EPPO) report, in 2019, Thailand’s natural gas total 
production was 5,017 million standard cubic feet per day (MMSCFD). It consisted of domestic production of 3,623 MMSCFD (72% of the total production from 13 major natural gas fields) and imports from Myanmar of 1,394 MMSCFD (28% of the total production). 

Consumption of Natural Gas by Sector in 2019:
 

Source: EPPO

Natural Gas consumption for electricity was a total of 2,794 MMSCFD with the average growth of 5% y-o-y in 2019.  Major electricity producers in Thailand are driven by Small Power Producers (SPP), which consumed 46% of the total natural gas for electricity. The rest of the consumption is shared by the Electricity Generating Authority of Thailand (EGAT) at 27% and large Power Producers (IPPs) at 26%. 

The second-largest natural gas consumers are Gas Separation Plants (GSPs). PTT, the largest gas separation producer has 6 plants in Thailand and consumed 1,015 MMSCFD or 21% of the total natural gas. Meanwhile, the industrial sector was the third-largest consumer at 759 MMSCFD and Natural Gas for Vehicle (NGV) was the smallest consumer at 194 MMSCFD.   

LNG

Thailand has been importing LNG since 2011. In 2019, the country imported 657 MMSCFD of LNG which accounted for 47% of the total import of natural gas and 27% of the total natural gas supply in the country.  PTT, as the sole importer of LNG in Thailand, has signed the long-term purchase contract with Qatar for 2 million tons per year, Shell for 1 million tons per year, BP for 1 million tons per year, and Petronas for 1.2 million tons per year. As of 2019, Thailand plans to become an LNG hub for its neighboring countries and has developed LNG Receiving Terminal 1 with a capacity of 11.5 million tons per year in Map Ta Phut, Rayong. The second Terminal with a capacity of 7.5 million tons per year is currently under construction and aims to be completed in 2022. 

With the strong government initiative support through the Power Development Plan for 2018-2037 (PDP 2018), and The Gas Plan 2018-2037, Thailand aims to be the LNG hub for ASEAN. PTT PCL, a state-owned oil and gas company, has been ordered to increase its gas business to serve as an LNG trading hub. The company currently is connected with Laos and Malaysia; therefore, the next extension is to connect with Myanmar, Cambodia, and Singapore.  

The major factors to drive Thailand to become a successful regional LNG hub are the increased demand in Thailand, strategic location, infrastructure readiness, and variety of service support such as breakbulk, cargo, and bunkering.  

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Thailand’s LNG Receiving Terminal and Future Projects

Project
Capacity (MTPA) 
Commercial Operation
Status
Project Owner

Map Ta Phut LGN
11.5
2011/2017/2019
Operating
PTT

Nong Feb Receiving Terminal II

7.5 Phase I
7.5 Phase II

2020
Under Construction
PTT

Map Ta Phut Phase III
5-10.8
Projected to begin operation  in 2025
Early-stage
Gulf Energy (70%)
PTT (30%)

FSRU 1
5
2024
FEED expected by Q1 of 2020
EGAT

FSRU 2
2
2028
TBC
EGAT

The Energy Regulatory Commission of Thailand has approved LNG Receiving Terminal Tariff as follows (as of 25th July 2019): Demand Charge 18.3506 baht/ MMBTU, Commodity Charge 0.410 baht/ MMBTU.

It is projected that the demand for LNG will increase significantly in the next 5 years, while the production of coal for electricity has dropped and been replaced by the higher imported volumes of LNG. The concession of the two main natural gas operations at Erawan and Bongkot, where 1,851 MMSCFD of natural gas are produced, will end in 2022 and 2023. The contract for natural gas imports from Myanmar will end in 2023 and 2024. Lastly, the concession on the Joint Development Area (JDA) between Thailand and Malaysia for the exploration and exploitation of non-living natural resources, particularly petroleum, will end in 2027.  As a result of many concessions and contract expirations, it is projected that Thailand will rely on LNG 100% in the next 15 years. 

In 2018, the Ministry of Energy granted the LNG shipper license to EGAT to push the country’s consumption and support the initiative to promote Thailand as a free trade hub of LNG. Currently, EGAT is under the development of the country’s first floating storage regasification unit (FSRU) to be located 20 kilometers- offshore area in the Gulf of Thailand.  The ministry also plans to liberalize and grant more shipper licenses to private companies in the next few years, which will lead to the ending of the monopoly held by PTT. Among the group of interested parties is Ratch Group, B. Grimm Power, Gulf Energy Development, Siam Gas & Petrochemical.  

From the Department of Mineral Fuels, Thailand also plans for two FSRUs.  The first project which will have a capacity of 5 MTPA, will come online in 2024; the second, which will have a capacity of 2 MTPA, will come online in 2028.
 

Coal – Lignite

The majority of coal reserves and domestic production in Thailand is lignite from EGAT’s plant in Mae Moh, Lampang. In 2019, the nation produced 14 million tons, 98%, or 13.6 million tons of which were from EGAT. The country consumes almost 100% of the production annually. Meanwhile, Thailand has imported other high-grade coal valued at USD1.5 billion or 21 million tons from overseas.

 Import Volumes of High-Grade Coal from 2017-2019

Source: Customs 

Based on preliminary data from the EPPO, 60% of the coal consumption is for electricity and the rest is for the industrial sector. To break down by the type of coal and its consumption, the high-grade coal consumption in 2019 was 21 million tons and mainly contributed to the industrial sector, Large and Small Power Procedures. At the same time, Lignite was mainly consumed by EGAT for electricity. 

Coal and Lignite Consumption by Sector: 

Source: EPPO

Energy Transition – Smart Grid 

According to the Global Energy Transition Index 2019 by the World Economic Forum, Thailand was ranked 51 out of 115 countries globally. The country moved up by 3 ranks from the previous year due to improvement in energy stability and adjustment to new energy and environment. The main policy that drives the improvement is the Power Development Plan (PDP) 2018 that involves the Solar Power Plan- Public Solar Project, a 10-year project with a capacity of 10,000 MW. This solar project will get households to participate in energy generation and increase renewable consumption from 15% to 30%. The PDP will also provide a smooth transition for Smart Grid realization for Thailand through the Smart Grid Development Master Plan (2015 – 2036) and Smart Grid Action Plan (2017 – 2021) that have been provided to promote sufficient, efficient, sustainable electricity supply as well as high-quality services and maximization of benefits to the country. 

This pilot project includes the first smart microgrid site in Thailand by the Provincial Electricity Authority (PEA) in Ban KhunPae, Chom Thong District, Chiang Mai Province. This Smart Microgrid system utilizes electricity generated by hydropower (100 kW) and solar PV (100 kW) equipped with high-efficiency energy storage (100 kWh) serving the KhunPae Royal Project and Ban KhunPae Community of 700 households. The microgrid system aims to manage the grid connection and islanding, smooth changing mode, black start, load shifting, and peak shaving, PV smoothing, and load to enhance the quality of life of people in the KhunPae community. 

The PDP 2018 initiative has extended the Small Power Producers (SPP) cogeneration contracts that expired from 2016-2025. The expirations impacted 25 operators with the generating capacity of 2,974 MW, 20 of which used natural gas, and 5 of which used coal.  As a result of the contract expirations, we will see increased investments in the 3 classes of power generations: 

  • For independent power producers (IPPs), the open bidding should take place within the next 3-5 years for a replacement to large-scale power plants that use natural gas, which will reach the end of their supply contract and lose their access to the grid in 2025-2027 and will lead to 700 MW of capacity up for auction. 
  • Opportunities show that SPPs will increase their generating capacity and drive more investments in new power plants especially for natural gas-fuels cogenerating power plants, whose contracts expire in 2016-2025. At the same time, these SPPs will invest in renewables through mixed-fuel power generators or “hybrid firms.” 
  • There will be more investments in solar power from private rooftop solar cells with support from the government to purchase 100 MW of supply for the next 10 years (started in 2019). The investment opportunities in wind and hydro will be expected after EGAT builds the necessary transmission lines. 

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Competitive Landscape

Thailand’s market for oil, gas, and energy equipment was predominantly driven by China and Japan in 2019. However, the U.S. is still ranked in the top 5 importers of the equipment to the country and is seconded by Germany. The U.S.’s competitive advantage is led by high quality, longer life cycles, and advanced technology equipment. 

Key international suppliers and brands in Thai oil and gas equipment and services are Bechtel, Schlumberger, Cameron, National Oilwell Varco, Petrofac, SGS, and Halliburton. Notable local companies are JST Group and OPS Group. 

Local Authorities and Agencies

The Electricity Generating Authority of Thailand (EGAT) is Thailand’s main electric power producer and wholesaler and is owned by the Thai government. EGAT is the largest power producer in the country with a total production installed capacity of 15,424.83 MW in 2019.  EGAT builds and operates several types and sizes of power plants across the country as well as owning power transmission lines.  EGAT’s generation systems include combined cycle thermal power plants and hydropower plants. Its transmission system consists of long-distance high voltage transmission lines and substations that transmit power to the industrial and residential sectors. 

The state-owned enterprises Metropolitan Electricity Authority (MEA) and the Provincial Electricity Authority (PEA) are both responsible for electricity distribution in Thailand. The difference between the two agencies is the coverage area; the MEA is responsible for Bangkok and metropolitan vicinities including Nonthaburi and Samutprakarn provinces while the PEA covers all other parts of the country.

IPPs- The most important players are: Electricity Generating, Ratchaburi, Electricity Generating Holding, Global Power Synergy, Ratchaburi Electricity Generating, Glow IPP, Eastern Power & Electric, BLCP Power, Gulf Power Generation, Ratchaburi Power, Gheco-One, Gulf JP NS and Gulf JP UT.

SPPs- (Cogeneration) the important players are Amata B.Grimm, Gulf JP, Glow SPP, Rojana Power, Glow Energy, Rathchaburi World Cogeneration, SSUT, TOP SPP, Banpu, EGCO Cogeneration. (Renewable) the importation players are National Power Plants, Mitphol Bio-Power, Khonburi Power Plant, Gulf Yala Green, A.T Power, and Khon Kaen Sugar Power Plant. 

VSPPs- (Solar) major players are Solar Power, Bangkok Solar Energy, B.Grimm Yanhee Solar Power, Gunkul Powergen, Solarco, Siam Solar Energy, N.P.S Star Group, S2P Energy, Saolartra, EGCP-SPP. (Wind) major players are Wind Energy Development, Inter Far East Wind International, and Theppana Wind Farm. (Biomass) major players are Erawan Power, Thipkamphangphet, Khonburi Power Plant, Kaona Power Supply, and Yala Green Energy. (Biogas) major players are EH& Renewable, Sanguan Wongse Energy, VG Energy, and Mitprasong Green Power. (Waste) major players are PJT Technology, Zenith Green Energy, and Bangkok Green Power. 
 

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Best Prospects for U.S. Exporters

Thailand is in an age of energy disruption.  The country needs to adapt to new technologies in the energy sector, and electricity is not only for large corporations anymore.  Regarding the Permanent Secretary of the Ministry of Energy, several pillars cab capture future disruption in the energy sector: digitalization, decarbonization, decentralization, deregulation, and electrification.  Three main focal themes for energy in Thailand are as follows:
Energy for All: The Ministry of Energy was instructed to formulate an “Energy for all” policy to support the public as well as raise the level of the country’s competitiveness.  The PDP 2018 revision 1 has raised the proportion of renewable energy such as solar, biogas, and biomass through community power plants.  Thailand’s power lines will be upgraded from 115kv to 500kv or 800kv to support alternative power and reach communities that produce them.

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Power Trade Hub of Southeast Asia:  Thailand aims to be the power trading hub in Southeast Asia by improving high-voltage transmission lines across the country to open regional power trading and sales of surplus electricity.  The improvement of high-voltage transmission lines is part of digitization, with a target to support grid connection in Southeast Asia soon.

LNG Hub for ASEAN:  The Ministry of Energy has been pushing forward a plan to promote Thailand as a free trade hub for LNG since 2016.  To support Thailand as a regional LNG trading hub, the Industrial Estate Authority of Thailand had signed an agreement worth $1.33 billion with the Gulf MPT LNG Terminal Company selected to build the country’s third LNG import terminal. Commercial operations for the project are slated to begin by 2025.  From the Department of Mineral Fuels, Thailand also plans for two floating storage regasification units (FSRUs).  The first project which will have a capacity of 5 MTPA, will come online in 2024; the second, which will have a capacity of 2 MTPA, will come online in 2028. 

Thailand offers a promising market opportunity for U.S suppliers and exporters of oil &gas, electrical power systems, and energy equipment. The Power Development Plan (PDP) 2018 will play a significant part in Thailand’s energy by making fuel electricity more acceptable to the public and reducing environmental impacts. This is an area where U.S. companies could potentially play major roles as advanced know-how and technology suppliers. 

Listed below are highlight business opportunities among prospective buyers’ energy projects:

  • Power generators, clean coal technology, and alternative/renewable energy technology (e.g. biomasses, waste to energy, low-speed wind turbine, and solar panels); mainly for the EGAT, Independent Power Producers (IPPs) and Very Small Power Producers (VSPPs).
  • Transmission and distribution line infrastructure and equipment including underground power cable, and submarine cable extension for the Metropolitan Electricity Authority (MEA) and the Provincial Electricity Authority (PEA) respectively.
  • Equipment related to the natural gas creates promising and committed opportunities for U.S. firms to offer transmission pipelines, LNG-receiving terminals, LNG transfer ports, LNG transportation, storage and infrastructure to Thai operators. 

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Regulatory Environment

Tax and customs tariff duties on imported fossil fuels and energy equipment and machinery from overseas under the normal tariff rate imposed by the Thai Customs Department range from 20%-35% of the CIF price depending on the type of the equipment. The Customs Department has established an integrated Tariff Database website providing Customs-related information to the general public including overseas exporters and local importers. It is available in both Thai and English here: http://itd.customs.go.th/igtf/th/main_frame.jsp?lang=th&top_menu=menu_homepage&current_id=5028 

Notable exemptions on import duty for equipment in Thailand are under the Petroleum Act, B.E 2514, which subjects that the import of machinery, equipment, tool structures, transport vehicles, accessories, spare parts and other materials which are to be used in petroleum operations are to be free of duties if procured by concessionaires and their subcontractors. 

The Board of Investment (BOI) also offers investment incentives for businesses involved with platform repair in the petroleum industry including a free duty for importing in machinery and raw materials. BOI also offers incentives for alternative and renewable energy businesses with similar benefits that include a free duty for manufacturers of parts and equipment for solar-power products, fuel cells, and fuel from agricultural waste (biomass and biogas). 
 

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Market Entry Considerations

Working with a local agent, distributor and representative are critical for U.S. companies interested in selling their products and services in the Thai market. Local companies and buyers put a high premium on companies with a local or regional presence and support.  On the other hand, government regulators are not always approachable and do not necessarily communicate well with foreign firms.

A local partner or distributor would be ideal if a firm wanted to pursue project bidding, procurement processes, or participate in any incentive, as they can help facilitate and navigate Thai government requirements and maintain adherence to Thai qualifications. A good local partner can enhance and personalize marketing efforts within the Thai market and look for new projects and business opportunities. Moreover, Thai buyers value the relationship when dealing with sellers. U.S. companies are advised to be patient and take time cultivating trust and developing a relationship with local distributors and partners. The U.S. Commercial Service in Thailand can help U.S. suppliers and companies to qualified partners in the Thai market. 
 

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Technical Barriers to Trade and More

Thailand has long been recognized as a popular destination for foreign investors due to attractive Thai government investment incentives.  However, there are challenges in doing business.  Policy and procedures may be less transparent than in the United States.  Market intelligence is not widely available and the process to obtain detailed, verified information can be slow and challenging. 

Furthermore, the Thai government has undergone occasional instability which may affect certain market segments. U.S. firms should demonstrate patience while Thailand is run by a military government and still undergoing political reform. 

U.S. companies are recommended to work with local partners, whether consultants, legal agents, or distributors, to limit contingencies.  Moreover, background checks on potential local partners are recommended.  Finally, by law, U.S.-based firms need to adhere to the U.S. Foreign Corrupt Practice Act (FCPA), whereas some of their competitors may not.
 

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Upcoming Trade Events

ASEAN Sustainable Energy Week 
Date: September 16th -18th, 2020   
Location: BITEC, Bangkok 
Website: www.asew-expo.com/2020/en/index.asp 

Pump and Values Asia 
Date: September 16th- 18th, 2020     
Location: BITEC, Bangkok 
Website: www.pumpsandvalves-asia.com 

Future Energy Asia 
Date: March 3rd – 5th, 2021
Location: BITEC, Bangkok
Website: https://www.futureenergyasia.com/
 

 

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Industry Resources

Energy Policy and Planning Office (EPPO)
Ministry of Energy

121/1-2 Phetchaburi Road, Ratchathewi 
Bangkok 10400 Thailand
Tel. 662-612-1555
Fax. 662-612-1364
Web-site: www.eppo.go.th

Thai Customs Department
1 Suntorn Kosa Road, Klongtoey
Bangkok 10110 Thailand
Tel.     662-667-6000, 667-7000
Customs Care Call Center: 1164
Web-site: www.customs.go.th

Electricity Generating Authority of Thailand (EGAT)
53 Moo 2 Charansanitwong Road, Bang Kruai, Nonthaburi 11130
Phone: 662-436-1416
Website: https://www.egat.co.th

Petroleum Institute of Thailand
11th Floor, Energy Complex Building B
555/2 Vibhavadi Rangsit Road, Chatuchak, Chatuchak, Bangkok 10900
Phone:  662-537-0440/8
Website: http://www.ptit.org
 

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[Update] Fuel Prices Thailand | gasoline price in thailand – Sathyasaith

Part of: GIZ International Fuel Price database

Also see: Thailand Energy Situation

Fuel Pricing Policies

Local Currency:

THB

Exchange Rate:

29.83

(2010/11/17)

Last Update:

“Pricing policy: Thailand established an oil fund after the oil shock of 1973. It has been used both to smooth price swings on the world market and to cross-subsidize socially sensitive fuels. LPG was cross-subsidized until Nov 2007, and for two months in 2009. Gasoline and diesel were subsidized for many months in 2004. Diesel was subsidized in 11 out of 12 months in 2004, and diesel, but not gasoline, continued to be subsidized by the fund in 2005 until Aug. Diesel was again subsidized in 2008, in Jun 2009, in the first four months of 2011 leading up to a closely contested national election in July 2011, and again in Aug and Sep 2012. In addition, the oil fund levy was eliminated for both gasoline and diesel in the last four months of 2011. By Apr 2011, the oil fund reserves had been depleted. Aside from periodic subsidization of gasoline and diesel, the oil fund has been used mainly to subsidize bioethanol and biodiesel in recent years. The Oil Fund had a deficit of 22 billion baht (US$0.7 billion) in Jun 2012. In 2011, the issue at hand was how long government could prevent the diesel price from rising above 30 baht (US$1)/liter. Monthly average prices of diesel in Bangkok and monthly average benchmark FOB prices relevant to Thailand since 2007 are shown below. The plot illustrates government’s attempts to keep the retail price at or below 30 baht/liter.

Tax reductions: In Apr 2011, the cabinet approved a cut in the excise tax for diesel from 5.31 baht (US$0.18)/liter to 0.005 baht (US$0.0002) effective from Apr 21 until Sep 30 to keep diesel price at or below 30 baht (slightly less than US$1)/liter, a move widely criticized for being political even by the Federation of Thai Industries. Although launched initially as a temporary measure, this excise tax reduction has remained in effect to this day. In Jul 2011, the Excise Department said the decision had led to higher diesel consumption and government had lost 9 billion baht (US$300 million) a month. Government in Aug 2011 suspended contributions of 91 and 95 RON gasoline and diesel to the Oil Fund. Officials were sent to 18,000 filling stations nationwide to check the amount of stocks before the new prices became effective; government had set aside about 3 billion baht (US$100 million) to compensate retailers for the inventory. In addition, biofuels enjoy large tax reductions. The total reduction in taxes and charges on E10 for gasoline with 91 RON was US$0.63 per liter of ethanol blended in Feb 2007. By mid-2008, the overall reduction rose to US$2 per liter of ethanol blended, and remained above US$2 in 2012, or triple the FOB price of the same grade of gasoline in Singapore.

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LPG pricing: The primary source of the subsidy for LPG is not the Oil Fund but the subsidy applied at the refinery gate: the ex-refinery price has been frozen at US$333 a tonne for more than two decades under a program intended originally to help relieve the burden of households and food vendors. The benchmark FOB price for LPG has been consistently above US$333 since Aug 2004, rising to an average of US$850 a tonne in 2011 and US$920 in 2012. Government’s plan to float the price of LPG for industries in 2008 faced strong opposition and was delayed until Jul 2011, when government began to raise the price by 3 baht/kg every three months until it reached 30.13 baht/kg; price increases above 30.13 baht/kg would require the approval of the National Energy Policy Council, chaired by the prime minister. Many companies switched to 48-kg cylinders, normally reserved for household use. Government began to raise the price of automotive LPG in 2012. The LPG subsidy is borne by government and the CNG subsidy by PTT (formerly known as Petroleum Authority of Thailand), and hence government has used the Oil Fund to finance conversion of taxis from LPG to CNG. PTT is eventually reimbursed for LPG subsidy, but with a long delay. In Sep 2012 in Bangkok, LPG was sold at 18.13 baht (US$0.58)/kg to households, 30.13 baht (US$0.97)/kg to industrial consumers, and 21.38 baht (US$0.69)/kg as an automotive fuel, and these prices were maintained through early 2013. The prices of LPG for residential and industrial consumers in Bangkok, together with recent national monthly consumption, are shown below. The plot shows stagnating consumption of LPG by industrial users and sharply rising consumption of LPG by households, supporting reports that some industrial users may have switched to residential LPG for cost savings.

Kt = kilotonnes.
In Nov 2012, government announced a plan to raise LPG prices for all consumers over time to 36 baht (US$1.17)/kg, based on an assumed benchmark price of US$0.90/kg in 2013–2014. The retail price would be raised by 0.5 baht (US$0.02)/kg every month for residential and automotive consumers and by 1 baht (US$0.03)/kg a month for industrial users until 36 baht is reached. In Jan, government announced that the start of the monthly price increases would be delayed from Jan to Apr, on the grounds that a survey would need to be conducted first to identify the recipients of government assistance after the price increase.

Consequences of subsidies: The Oil Fund received authorization to borrow 10 billion baht (US$0.32 billion) in Oct 2011, and another 20 billion baht (US$0.65 billion) in Mar 2012. In Jan 2013, the oil fund was reported to have a deficit of 16.4 billion baht (US$550 million).

Social protection: Government has repeatedly extended a utility subsidy program for low-income households, first introduced in 2008 as world oil prices soared: free electricity to households using up to 90 KWh a month, reduced to 50 kWh in Nov 2011, and free rides on non-air-conditioned public buses and third-class trains.

Information: Energy Policy and Planning Office (EPPO) of Ministry of Energy stopped posting monthly information on the balance of the Oil Fund on its Web site in 2011 in the months leading up to a closely contested general election in July, and has not resumed since. EPPO’s Web site otherwise has detailed information on prices, but subsidies at the ex-refinery level are opaque and not indicated.”

(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)

Gasoline 95 Octane
Diesel

in USD*

in Local Currency

* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil

Fuel Price Composition

Price composition for one litre of High Speed Diesel as of 2012/01/01.

Source: Own calculations based on http://www.eppo.go.th/info/8prices_stat.htm and →App. A1

Price composition for one litre of 95-octane gasoline as of January 2011

Source: Own calculations based on http://www.eppo.go.th/info/8prices_stat.htm and →App. A1

At a Glance

Regulation-Price-Matrix
Transparency of
Price Composition

Transparency of Pricing
Mechanism / Monitoring

An easy-to-understand price breakdown might be added to the informations given at http://www.eppo.go.th. Information on fuel taxes missing as of May 21st, 2011.

Sources to the Public

Type of Information

Web-Link / Source

Price Composition

http://www.eppo.go.th/info/8prices_stat.htm (Implicitly available from given data)

Pump prices and margins

http://www.eppo.go.th/info/8prices_stat.htm

Wholesale Prices

http://www.eppo.go.th/info/8prices_stat.htm

Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices

This is a living document. If you have any comments or suggestions, please feel free to contact us: [email protected]

“High Speed Diesel” contains an extrinsic dash or other characters that are invalid for a date interpretation.


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How tapping strategic oil reserve will affect U.S. gas prices, OPEC+


Correction: The transcript of this piece has been changed to reflect that President Gerald Ford signed a law creating an emergency stockpile of crude oil in 1975, not in 1973 as originally stated. We regret the error.
President Joe Biden is tapping an emergency stockpile of oil to stem a rising tide of energy prices. His order Tuesday draws 50 million barrels of crude oil from the nation’s Strategic Petroleum Reserve. William Brangham begins the report, and Judy Woodruff speaks to Bob McNally of Rapidan Energy Group for how The Organization of the Petroleum Exporting Countries could react and more.
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How tapping strategic oil reserve will affect U.S. gas prices, OPEC+

10 Best Places to Visit in Thailand – Travel Video


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10 Best Places to Visit in Thailand - Travel Video

Thailand News Today | Pfizer for all, PM orders diesel price cut, 6 drug traffickers killed | Nov 24


Jett goes through all the main headlines in Thailand that include: The Thai government tells people to ditch their Moderna orders and come get Pfizer vaccines, the country plans to further subsidize diesel prices, and Myanmar’s prodemocracy opposition issues revolutionary bonds
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Thailand News Today | Pfizer for all, PM orders diesel price cut, 6 drug traffickers killed | Nov 24

Gas Prices: Prices continue their upward spiral as Thanksgiving travel begins to pick up


Prices continue their upward spiral as Thanksgiving travel begins to pick up

Gas Prices:  Prices continue their upward spiral  as Thanksgiving travel begins to pick up

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ขอบคุณมากสำหรับการดูหัวข้อโพสต์ gasoline price in thailand

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