Bangkok: "Ekanat" has called for an urgent meeting of the Energy Policy and Budget Bureau with the objective of reducing fuel prices. This comes as global crude oil costs have seen a decline, prompting an immediate response to adjust domestic retail prices accordingly.

According to Thai News Agency, Prime Minister Ekanat has instructed Energy Minister Ekanat Promphan to take swift action following guidance from Prime Minister and Interior Minister Anutin Charnvirakul. The directive was issued after a Cabinet meeting, emphasizing the urgency to reduce fuel prices domestically. To achieve this, Ekanat Promphan has organized a crucial meeting with the Energy Policy Administration Committee (EPAC) and the Fuel Fund Management Committee (FFMC) to explore strategies for aligning retail fuel prices with the current global market.

The Energy Policy and Budget Committee (EPCC) and the National Energy Policy Board (NEPB) are scheduled to meet this evening to accelerate the process. This initiative aims to ensure that the reduction in crude oil costs is quickly reflected in retail fuel prices, providing immediate benefits to the public. The goal is to bypass the typical reliance on Singapore's refined oil product prices, allowing for a more direct and timely adjustment that aligns with the recent decrease in global crude oil costs.