BANGKOK - Thailand's Energy Ministry has announced another increase in diesel prices, raising the retail price by 3.50 baht per liter effective immediately. This marks the third price hike this year and has prompted bus and transportation operators to announce corresponding fare increases.
The price increase is attributed to rising global oil prices and the depreciation of the Thai baht against the US dollar. The government has stated that the price adjustment is necessary to reflect actual market conditions.
Impact on transportation:
• Interprovincial bus fares expected to increase by 5-10%
• Bangkok public bus fares under review
• Taxi meter rates being reassessed
• Goods transportation costs rising
"We understand this affects many people, especially daily commuters," said an Energy Ministry official. "We are working on measures to mitigate the impact on vulnerable groups."
The government has announced a temporary subsidy program for registered public transportation operators to help offset the increased fuel costs and minimize fare hikes for passengers.
Consumer advocacy groups have expressed concern about the cascading effect of fuel price increases on the cost of living, calling for additional government support measures for low-income households.
For tourists planning to visit Thailand, the price increase may affect transportation costs, particularly for long-distance travel between cities and popular tourist destinations.