Thai Industry Group Urges Government to Cut Energy Prices
Thailand's business chamber is pushing the government to cut energy prices as global oil costs decline, arguing lower fuel expenses would ease living costs and boost economic recovery across the nation.
Pimpjai Lee Issaranukul, chairman of the Thai Chamber of Commerce (TCC), announced that as global oil markets stabilize and crude prices have fallen from the elevated levels seen during Middle East tensions, the government should promptly implement measures to adjust domestic energy prices appropriately to reflect these reduced costs. This would help ease the cost of living for citizens, reduce business expenses quickly, and support Thailand's economic recovery.
The TCC has submitted five key proposals to the government:
1. Accelerate the transfer of reduced energy costs to consumers by implementing domestic pricing mechanisms that quickly, transparently, and fairly reflect global oil price reductions, ensuring direct benefits for both citizens and businesses.
2. Balance fuel fund management by reviewing fund collection obligations to suit the current stabilized market conditions, preventing citizens and businesses from bearing unnecessarily high energy costs.
3. Reduce the country's economic costs, as fuel expenses impact not only motorists but also transportation, food, and production costs for businesses, particularly SMEs, thereby enhancing competitiveness and stimulating overall economic activity.
4. Build confidence in the country's economic management through policies that promptly respond to global market changes with clarity, reinforcing trust among citizens, investors, and the business sector.
5. Accelerate the transition to clean energy while reducing fossil fuel dependence by promoting energy efficiency improvements and supporting clean energy deployment to ensure energy security, enhance industrial competitiveness, and support the long-term shift to a low-carbon economy.
Implementing these measures would provide both short-term relief from cost pressures and establish long-term energy foundations for the country, alleviating the cost-of-living burden on citizens, strengthening business competitiveness, and reinforcing confidence in Thailand's economy during volatile global conditions.
