Thailand mulls cutting fuel excise tax to ease living costs
Finance Minister Ekniti Nitithanprapas said Thailand is evaluating a reduction in the excise tax on fuel to help offset the cost-of-living pressure from the energy crisis.
The proposal would lower the tax on blended biofuels such as E20 and B20, which could also benefit farmers. Ekniti noted that previous steps, including trimming refinery margins and using the Oil Fuel Fund, have already been taken to stabilise prices. He added that any tax relief would be structured to preserve Thailand's fiscal health, a factor praised by rating agencies. The minister also plans to request an extension of the consumer subsidy scheme at an upcoming cabinet meeting.
Why it matters
A fuel tax cut could lower everyday expenses for Thai consumers while preserving the nation's fiscal stability.
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