The Thai government will lower fuel and electricity prices through a restructuring of tariffs, although supplies may remain costly and occasionally tight, Prime Minister Anutin Charnvirakul said late Monday.
The remarks followed the first meeting of the newly appointed cabinet, which earlier attended a swearing-in ceremony before Their Majesties the King and Queen.
“The government will adjust fuel and electricity price structures to bring costs down, and there will be other measures to help the people,” the prime minister said.
“Fuel and related products may remain expensive and insufficient. The government will try its best to cushion the impact,” Mr Anutin said.
He added that additional relief measures would soon be introduced, including a co-payment scheme, discounted consumer goods, and soft loans for farmers, small and medium-sized enterprises (SMEs), and the industrial sector.
The prime minister also pledged to reduce government expenditure to help support the public during the crisis.
“We are facing a global crisis and we will get through it. I would like the people to cooperate,” the prime minister said, attributing the situation to the ongoing conflict in the Middle East.
He said the conflict has damaged petroleum and chemical production facilities in the region, with repairs expected to take time even after hostilities cease.
“The shortfall in fuel and gas supplies in the Middle East has made it more difficult to source them elsewhere. The government chooses to announce this fact so that the people will understand and are ready to adjust and cope with the situation,” Mr Anutin said.
Mr Anutin noted that roughly half of Thailand’s oil imports typically come from the Middle East, and that the conflict has pushed up prices of energy, fertiliser, and plastic pellets, with broader global repercussions.
