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Bangkok Post

Business

Ministry not ruling out excise tax cut extension

Oil Finance Ministry

A pickup fills up the tank with diesel at a PTT petrol station on Vibhavadi Rangsit Road on Sunday. (Photo: Varuth Hirunyatheb)

The Finance Ministry has not eliminated the possibility of extending the period set for the reduction of the diesel excise tax, says a ministry source who requested anonymity.

The source said the impact of the Russia-Ukraine war resulted in a sharp spike in global oil prices to $120-130 per barrel during the start of the war.

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