Bangkok: A government committee led by Deputy Prime Minister Ekniti Nitithanprapas has ordered a reevaluation of refinery and marketing margins with the goal of reducing energy costs for consumers.

According to Thai News Agency, the Committee on Fuel Cost Study aims to complete these adjustments by April 6 for a presentation to the cabinet next week. This initiative is intended to decrease retail pump prices in time for the Songkran festival, offering financial relief to millions of citizens before the national holiday.

"Current refinery margins may be disproportionate," Ekniti informed reporters, highlighting that certain costs included in the pricing-such as shipping and insurance-are not applicable to all operators. The minister called for a realistic reassessment of "War Premiums" related to Middle East tensions, noting that Thai refineries do not exclusively source their crude from that region. Consequently, the Ministry of Energy has been tasked with consulting refineries to scrutinize 'War Premium' costs based on actual expenditures, ensuring a more precise calculation of refinery margins.

The government aims to eliminate these "abnormal costs" to reflect true operational expenses. If the proposal receives approval, it would provide immediate financial relief to millions of Thais traveling across the country for the traditional New Year holidays starting April 13.