BANGKOK: Thailand has discussed with the Russian government the possibility of purchasing crude oil, a deputy prime minister said on Tuesday.
Deputy premier Phiphat Ratchakitprakarn told reporters Thailand’s foreign minister had discussed the issue of buying Russian crude at a meeting in Europe on Monday and it was understood negotiations were underway.
Thailand’s government would try to cap domestic diesel prices at 33 baht ($1.02) per litre, Phiphat said.
Thailand has oil reserves for 96 days and will discuss fuel prices later on Tuesday, he added.
The country’s Oil Fund is currently in deficit of more than 12 billion baht ($370.37 million) and the government has discussed not allowing that to exceed 40 billion baht, he said.
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