00:00More expensive living costs and long queues at gas station Thailand may soon see prices
00:06rising again.
00:07Tensions in the Middle East have pushed oil prices above US$100 per barrel on the international
00:14market.
00:15Brent crude has reached US$115, marking a 25% increase after markets opened today.
00:23This surge is putting pressure on governments to introduce measures to control diesel prices,
00:28which are closely linked to transport costs for food and goods, eventually affecting how
00:36much people pay in their daily lives.
00:39Thailand's government has capped diesel prices at less than 30 baht per litre until the 17th
00:45of March.
00:46After the date, the ceiling could be raised by 0.5 baht per litre if necessary.
00:52The oil surge has destabilised the Thailand stock market.
00:56The SED index has dropped by 4% after market opened today, and other ASEAN markets also
01:05slumped due to the oil supply shock.
01:07Experts say the Thai government is facing a double whammy scenario.
01:12Authorities may be forced to introduce relief measures for the public, adding further pressure
01:17to the national budget.
01:19If the government adheres too richly to physical discipline and cut spending to stay within
01:24the budget framework, it could further slow the economy and weaken domestic purchasing power.
01:31Thai people may face higher living costs, more expensive food and rising energy prices,
01:36while it is already difficult for many to make ends meet due to high household debt.
01:42The government now needs to maintain stability while preserving fiscal discipline.
01:48It is very critical to watch.
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