Regarding the OFFO operations plan for 2025, Pornchai stated:
The Fund currently has an outstanding loan debt of approximately THB31 billion, down from a total debt of THB105.333 billion incurred since the 2022 oil price crisis.
The Fund is currently making monthly repayments of THB1.5 to 2 billion.
The entire debt is expected to be settled by 2029 as scheduled, or possibly sooner if global prices are not overly volatile.
The current status of the Oil Fuel Fund is a deficit of THB13 billion, broken down into an oil account surplus of THB27 billion and an LPG account deficit of THB41 billion.
New Crisis Management Plan
Pornchai also mentioned that the Fund is preparing to propose a new Fuel Price Crisis Management Plan for 2025-2029, as the previous 2020-2024 plan is set to expire.
The new plan will define guidelines for managing oil and LPG prices to cope with global market volatility.
It will include a review of the current price ceilings for diesel (set at THB30 per litre) and LPG (THB423 per 15 kg), to ensure they are appropriate for the current economic conditions.
The plan will be proposed to Auttapol Rerkpiboon, the Minister of Energy, in his capacity as Chairman of Thailand’s Fuel Fund Executive Committee, before being submitted to the National Energy Policy Council (NEPC) and the Cabinet.
The inability to appoint a new OFFO Director does not affect the submission of the plan, as the Fuel Fund Executive Committee is in charge of its administration.