Thailand to freeze NGV, LPG prices until 2010

Thailand’s Prime Minister Abhisit Vejjajava said that the government will use money from the state Oil Fund to subsidize liquefied petroleum gas (LPG), gasohol and B14 biodiesel, to help ease consumer burdens amid rising crude oil prices. In addition, the government has resolved to freeze the prices of natural gas vehicles (NGV) and LPG until August 2010. The Ministry of Energy is planning to propose that the National Energy Policy Committee reduce levies to the state Oil Fund as well. Three options will be proposed, including a reduction by 1 baht per liter (US$0.03), equivalent to 700-900 million baht (US$20.86-26.83 million) per month; a reduction by 1.50 baht (US$0.04) per liter, equivalent to 1.2-1.3 billion baht (US$35.77-38.75 million) per month; and, a reduction by 2 baht (US$0.06) per liter, equivalent to 3.3 billion baht (US$98.36 million) per month. (August 14, 2009)