Thailand's Finance Minister, Ekniti Nitithanprapas, stated on Monday that the government is considering a reduction in petroleum excise taxes for certain products. He noted that lowering fuel excise taxes would help alleviate the cost-of-living pressure on the public caused by the energy crisis.

The minister explained that the tax cut is being considered because nearly all other measures have been exhausted, citing previous efforts to reduce fuel costs by compressing refinery margins and utilizing the Oil Fuel Fund to stabilize prices. He added that the tax reduction would apply to blended biofuels like E20 and B20, which would benefit farmers.

Ekniti emphasized that any tax cut design would not undermine the country's fiscal position, which he described as a key strength assessed by credit rating agencies. He also mentioned that he would seek cabinet approval on Tuesday to extend consumer subsidy programs.