Thailand's Service Station Network Fuel Inventory
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Thursday, 24 July 2008 |
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All servcie stations in Thailand will be closed for five hours from midnight on Thursday so that the fuel inventory stock at each station can be verifed before an official price drop on Friday.
A 1,700-strong task force will be dispatched to check how much fuel is left in the service station tanks, because oil will be sold at a cheaper price once the excise tax cut takes effect on Friday. The Energy Business Department said this would be the largest inspection since 1992, when the country floated oil prices.
Director-general Metta Banturngsuk did not mention the cost of the inspection. If the daily wage is applied, these officials will earn more for overtime work. This is in addition to a loss of nearly Bt30 billion in excise tax revenue when taxes on gasohol and diesel are cut for six months.
Coupled with the expense of four other measures announced last week, the government will need to spend Bt46 billion. While the government should be commended for its actions, unfortunately they came days before global oil prices dropped nearly 20 per cent from their peak two weeks ago.
PetrolWorld 230708 Source: Nation
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