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Thailand's State Oil Fund Maintains Diesel Price Cap

THB

Spot USD/THB operates +0.033 at THB34.643, with bulls looking to further gains past May 13 high of THB34.783, towards May 11, 2017 high of THB34.815. Bears look for a retreat under May 5 low/round figure of THB34.018/34.000.

  • The Energy Ministry said that the state oil fund will maintain the cap on retail diesel prices at THB32/litre for now and will decide again next week whether to raise it. The oil fund was able to keep diesel prices at the previous level due to the extension to the excise-tax cut approved by the Cabinet this week.
  • Speeches from Thailand's key officials take focus today. PM Prayuth will speak about Thailand's future, while BoK Gov Sethaput, FinMin Arkhom and others will take part in a seminar on global and Thai economic outlook.
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