Thailand Approves Measures to Cope with Energy Price Hike

Thailand’s Prime Minister said the Thai cabinet approved measures including fuel subsidies to counter the impact of high energy prices caused by the Russia-Ukraine conflict.

Prime Minister Prayuth Chan-ocha said the government would give a monthly subsidy of $3 for cooking gas to 3.6 million welfare cardholders and $7.47 a month for fuel to 157,000 motorcycle taxi drivers. 

“The government is working hard on plans to help all the people as much as possible to get out of this crisis,” Prayuth said.

The measures came after weeks of protests against rising fuel and living costs.

Prayuth also said that diesel prices would continue to be at about $0.89 per liter until the end of April and then later be subsidized, while the price of natural gas for vehicles would remain at about $0.48 per kg.

The measures also included reducing electricity bills between May and August and lowering contribution rates of employers and employees to the social security fund.

Meanwhile, Commerce Minister Jurin Laksanawisit said that the cabinet also agreed to suspend half of the $278 million debt that thousands of farmers owe to state banks, which would be restructured within 15 years.

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