A recent government act amendment was immediately put into effect. The tax ceiling for oil excise was increased from Bt5/litre to Bt10/litre, with actual tax on oil excise increased Bt2/litre on average. This amendment, a counterweight to target-missing government revenue, will boost government revenue by Bt50,000 million per year, though in order to maintain the current oil price level, the government will also use Bt2 /litre from the oil fund in order to subsidize oil prices for one month – reflecting their highly prioritized drive for revenue, due to budget lack. However, I find this decision to be untimely for the following reasons:
