“Economic Party” proposes solution to oil crisis

Today (1 April) at 11:30 AM at the Parliament, Mr. Chris Potranandana, MP and Chairman of the Economic Party, announced the party's stance on free oil imports and its meeting with BRICS (Brazil, Russia, India, China, and South Africa). He stated that the party aims to find cheaper oil for the Thai people, who are currently facing a shortage and high prices. He proposed several solutions to the government, including free imports of refined or crude oil from various countries such as Russia, Iran, and Malaysia. He argued that if the government successfully implements this, the price of oil could drop by 7-10 baht per liter.

Mr. Chris further explained that current restrictions on importing refined oil are due to legal limitations and licensing requirements for fuel imports. Mr. Chris stated that the Ministry of Commerce currently holds oil trading licenses under the Fuel Trade Act. With the government now formed, we have a new Minister of Energy, a new Cabinet, and a new Prime Minister, giving them full authority. He urged the government to liberalize oil imports to provide Thai citizens with cheaper fuel and address potential domestic shortages.

Mr. Chris further requested an immediate reduction in excise tax, which would lower fuel prices by 7 baht per liter. He also called for an exemption from VAT on fuel, further reducing prices by 2 baht per liter. Therefore, a 16-19 baht price reduction would require a revenue cut of approximately 300 billion baht. He added that following discussions with BRICS, they can send a letter to the president to secure cheaper fuel from the global market and requested the elimination of subsidies through the Oil Fund.

Meanwhile, Mr. Meechai Thaocharoen, Chairman of the BRICS Thailand International Alliance, stated that Russia and BRICS are not ignoring the issue and have appointed him as a liaison between the Thai government and BRICS and the Russian government regarding energy and oil prices. Russia is prepared to provide the Thai government with unlimited oil reserves. All that's needed is for the Thai government to send an initial letter expressing its interest in cooperating with Russia and the BRICS bloc. Following this, the Thai Minister of Energy will be invited to sign a Memorandum of Understanding (MOU) with the Russian Minister of Energy to make this a concrete reality. This would benefit Thailand and contribute to lowering the cost of living for the public, easing the financial burden on Thai citizens. Therefore, I urge the Prime Minister and the new Minister of Energy to consider this matter, as it may benefit the people and the nation.

Photo : Weeraphat Ratsameerueangrong