Hanoi (VNA) – Thailand's Ministry of Energy announced on November 8 that it will reduce the palm oil content in its biofuel from 7% to 5% to deal with rising palm oil prices.
Thai Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga said this move, approved at a meeting of the Energy Policy and Planning Office (EPPO) on November 7, will help reduce biofuel costs.
The reduction in palm oil used in biofuel is expected to take effect from November 21. Accordingly, B7 biofuel, a blend of 7% palm-based biofuel and 93% petroleum diesel, will be converted to B5, a blend with 5% palm-based biofuel and 95% petroleum diesel.
Pirapan said the ministry has notified the National Palm Oil Policy Committee of this change and assured drivers that the switch from B7 to B5 will not negatively impact their vehicle engines.
The recent surge in crude palm oil prices has pushed the retail price of biodiesel to at least 48 THB per liter.
Since May 1, 2024, Thailand has discontinued the sale of B10 biodiesel, leaving only two types on the market: B7 and B20. B7 has been renamed biodiesel, while the name of B20 remains unchanged./.
