The Cabinet of Thailand has approved a decision to reduce the price of 91-octane gasoline by 2.5 baht over the next three months, starting from next week.

The reduction in price is expected to come into effect on October 31 and will be funded by a reduction in excise tax. It is known that this price reduction will lead to a decrease in state revenue of approximately 1 billion baht, according to the Minister of Energy.

This will also lead to a review of the overall oil price structure. According to the minister, this restructuring will be the most significant of its kind in the past decade.