Thailand runs out of gas on first day of price cut
The Thai government's decision to reduce gasoline prices by VND5,500 per liter has made the prices of 91 and 95 gasoline equal to those of ethanol-blended gasoline. Consumers switched to buying 91 and 95 gasoline instead of blended gasoline, forcing many stores to hang out signs saying they were out of stock on August 27, the first day of discounted gasoline sales.
The Thai government's decision to reduce gasoline prices by VND5,500 per liter has made the prices of 91 and 95 gasoline equal to those of ethanol-blended gasoline. Consumers switched to buying 91 and 95 gasoline instead of blended gasoline, forcing many stores to hang out signs saying they were out of stock on August 27, the first day of discounted gasoline sales.
However, the Bangkok Post newspaper quoted government officials as saying there was no shortage of gasoline. The shortage occurred on Saturday because gas stations did not anticipate that consumers would turn away from ethanol-blended gasoline, causing a surge in demand for 91 and 95 gasoline. Bangkok authorities stressed that there was no speculation. On average, Thailand consumes 5-6 million liters of gasoline of all kinds every day.
Public opinion is concerned that the price cut will undermine the previous government's efforts to encourage people to use gasoline blends to reduce dependence on imported crude oil and promote the use of cleaner fuels.
Some transport companies have announced fare reductions of 8-10%. The state transport company has also submitted a plan to reduce inter-provincial bus fares by another 0.2 baht/km (equivalent to 143 VND/km).
(According to Tuoi Tre)
