28/01/07 BANGKOK  (TNA) – In an attempt to boost consumption of alternative energy which could reduce oil imports, the Energy Ministry has set a revised bio-diesel consumption target on consumption at 500,000 litres per day this year with at least another 300 service stations to be set up nationwide.

Energy Minister Piyasvasti Amaranand said his ministry would encourage more consumption of bio-diesel this year. Daily consumption has been set at 500,000 litres while PTT Pcl. and Bang Chak Petroleum Pcl. will establish more than 300 service stations for bio-diesel distribution throughout the country.

Furthermore the ministry has set a target to increase bio-diesel demand at four million litres daily by the end of 2011 which could save as much as 7 per cent of diesel consumption. This projected amount of diesel saving, added with the use of ethanol and natural gas for vehicles (NGVs), could help the country save around 18 per cent on consumption of benzene and diesel, he said.

Regarding plans to use the state oil fund to help lower the retail price of bio-diesel at service stations by more than 50 satang per litre against diesel price in order to encourage more motorists to switch to using the alternative fuel, Mr. Piyasvasti said his ministry is considering adjusting the price of B100 bio-diesel in order to reflect prices of raw palm oil, ethanol and production costs.
 
The new prices will be jointly fixed by oil trading firms, bio-diesel manufacturing companies and the Ministry of Energy. (TNA)