Thailand's Ministry of Energy says oil consumption will increase by 2% in 2023
2023/8/31
From January to June 2023, Thailand consumed an average of 31.96 million liters of fuel per day, an increase of 5.9% compared to the same period last year. It will continue to rise in the second half of the year, with an overall increase of 2% compared to the same period last year.
In June 2023, there were a total of 1628 LPG service stations nationwide, an increase of 4 compared to May 2023 and 27 compared to 1601 in June 2022. The main reason for the slight increase in LPG service stations was the rise in oil prices and the increase in the use of liquefied petroleum gas in the transportation industry. From January to June, the daily average consumption of LPG was 17.69 million liters, a decrease of 1.4%, including a decrease in households, industry, and petrochemicals, with only the transportation industry increasing by 7.6%.
The policy for the proportion of B100 mixed diesel mixture is currently unified as a single grade policy for B7 diesel with a mixture of 7%. The purpose is to alleviate the increasing cost pressure of B100 mixed diesel prices, which is about to expire on September 30, 2023. Therefore, it is necessary to wait for the new government to decide whether to continue implementing it. We hope it can be done in time. If not, we need to discuss and decide with oil traders.
The end of the single grade policy and the reintroduction of B7, B10, and B20 blended diesel will result in an increase in diesel oil price subsidies. In addition, the policy itself must also be a single grade B7 by 2024, awaiting public hearings and the new government's approval process for the new fuel management plan.
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