Thailand Cuts Excise Tax on Diesel to Counter Soaring Inflation

Thailand will slash the excise tax on diesel for three months to lessen the impact of soaring global crude prices as inflation emerges as the latest threat to the economic recovery.

The cabinet agreed to cut the levy by 3 baht ($0.09) per liter until May 20, Thanakorn Wangboonkongchana, a government spokesman, said in a statement. The lower tax will take effect once the decision is published in the Royal Gazette, he said.

The move is aimed at easing the burden on Thailand’s state-run oil fund, which has run out of cash to subsidize retail fuel sales after the ...