On Monday, the board of the Oil Fuel Fund Office (OFFO) decided to lower the oil fund contribution rate, leading to a reduction in retail oil prices by one baht per litre.
Energy Minister Pirapan Salirathavibhaga, who chairs OFFO, announced that petrol and diesel prices would each decrease by 0.50 baht per litre on two occasions—this Friday and again on April 4.
This decision was influenced by the declining trend in global oil prices and the current status of the Oil Fuel Fund. Mr. Pirapan expressed hope that this reduction in oil prices would serve as a gift for motorists in celebration of the upcoming Songkran festival.
