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The Cabinet of Ministers has approved a decision to reduce gasoline prices starting from next week.

The Cabinet of Ministers has approved a decision to reduce gasoline prices starting from next week.

According to the cabinet resolution, the prices of 91 and 95 gasoline will be reduced by 1 baht, starting from November 7, 2023, for a period of 3 months.

However, 91 gasoline will be 2.50 baht cheaper due to the additional subsidy of 1.50 baht from the Petroleum Fund.

The Minister of Energy announced on Tuesday that the price reduction will be achieved by lowering the excise tax but will result in a reduction in state revenues of approximately 1 billion baht.

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