The cabinet on Tuesday agreed to extend an excise tax cut on diesel for another two months to July 20 to help reduce the costs of living, a government official said on Tuesday.
The tax cut of 5 baht (US$0.14) per litre will lead to a loss in revenue of 20 billion baht ($579.20 million), or about 10 billion baht ($289.60 million) in lost revenue per month, government spokesperson Anucha Burapachaisri told a news conference.
The recent tax cut, the seventh in succession, will prevent the retail diesel price from increasing rapidly or at a level that would impede the country's economic recover, he added.
