Thailand sets LPG wholesale price at $488 a tonne from Feb 2

BANGKOK: Thailand's military-backed government has set the wholesale price of liquefied petroleum gas (LPG) at $488 a tonne from Feb. 2, up from the previous regulated price of $333, as part of its closely watched energy reform.

The government is also considering adjusting prices in the future to reflect actual costs, energy minister Narongchai Akarasanee told reporters after meeting with the energy policy committee.

State-controlled PTT PCL, the country's main gas supplier, has shouldered losses from fuel subsidies given the energy giant has had to import LPG at global prices and sell them at the government-fixed price of $333 per tonne since 2008.