Thailand's Fuel Oil Fund: Explaining Pump Price Volatility
Fuel prices in Thailand can diverge from crude oil prices due to the Oil Fuel Fund (OFFO), which acts as a buffer by adjusting retail prices through subsidies and levies. When international fuel costs rise, the fund compensates consumers, and when prices fall or the fund needs rebuilding, it collects funds via levies. This system offers short-term consumer protection but increases the fund's financial burden.
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