Thailand plans to reduce biofuel taxes to decrease crude oil imports

智通财经2026/10/07 05:36

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(1) The Thai government is considering reducing the excise tax on biofuels to lower prices and boost consumption. On Wednesday, Energy Ministry spokesperson Phongphol Yodmankchalern stated during a press conference that the Energy Ministry and the Ministry of Finance are currently formulating a tax reduction plan. (2) Phongphol noted that biofuels, which are produced by blending gasoline or diesel with biomass fuel, can be produced domestically at a low cost. The excise tax on bio-gasoline and bio-diesel is around 6 baht per liter. (3) Expanding the use of biofuels would help reduce crude oil imports and ease the government's burden of fuel subsidies.

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(1) The Thai government is considering lowering the consumption tax on biofuels in order to reduce prices and stimulate consumption. Energy Ministry spokesperson Pongpol Yodmuangcharoen said at a press conference on Wednesday that the Energy Ministry and the Finance Ministry are drafting a tax reduction plan. (2) Pongpol stated that biofuels are made by blending gasoline or diesel with biomass-based fuels and can be produced domestically at low cost. The consumption tax on bioethanol and biodiesel is about 6 baht per liter. (3) Expanding the use of biofuels will help reduce crude oil imports and ease the pressure of government fuel subsidies.

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Thailand plans to reduce biofuel taxes to decrease crude oil imports

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