Govt cap LPG price at 363 baht

BANGKOK, May 25 (TNA) - The Energy Policy Administration Committee (EPAC) on Thursday resolved to subsidize the liquefied petroleum gas to keep the price at 363 baht per 15 kg cylinder, starting on May 28. Earlier, the cooking gas price rose to 395 baht per cylinder, prompting the committee to make the decision in order to alleviate the impacts of the rising LPG price on the cost of living. Energy Minister Siri Jirapongphan said currently, the LPG account in the State Oil Fund fund stands at 551 million baht and the EPAC will spend 300 million baht of the LPG fund on capping the LPG price for about two months. Meanwhile, the global LPG price reduced from US$580 per tonne to $543 and tends to drop further due to lower demand. It is believed that the LPG price will then drop in line with the global price to remain stable at around 353 baht per cylinder, so the government does not need to subsidize the LPG price in the long term. (TNA)