Korn advises Ekniti to review oil production costs, urging verification of seven key facts and disclosure of oil stock data to resolve concerns over excessive profits. He proposes the government adopt a "windfall tax" alongside a 6-baht excise tax cut to provide immediate relief to the public.
On 3 April 2026, Mr. Korn Chatikavanij, Deputy Leader of the Democrat Party, congratulated Mr. Ekniti Nitithanprapas, Minister of Finance, on his appointment as chairman of the Oil Cost Appropriateness Study Committee (OCASC). He submitted two main proposals and seven key points for verification to restore fairness to the public, who have borne the burden of excessively high oil prices alone over the past month.
Mr. Korn stated that the soaring oil prices result from three factors: global market prices, abnormally high refining fees, and consistently high tax rates. Therefore, he proposed that this committee transparently examine data on seven key points as follows.
1. What is the actual crude oil cost for refineries?
2. After global market prices rose, how does the actual purchase price at refineries differ from the reference price used to calculate refining fees?
3. What prices do traders affiliated with refineries actually pay and charge refineries? Is there a transfer of profits in these transactions?
4. What is the estimated cost of the "phantom" transportation fee assumed for shipments from Singapore?
5. What is the true refining cost at the refineries?
6. How do refinery profits from abnormal refining fees in the past month compare with normal periods?
7. What are the daily oil stock volumes entering and leaving storage held by traders?
Two main proposals to reduce the public burden
If investigations confirm that refineries have earned excessive profits, Mr. Korn proposes the government take action through two key mechanisms.
1. Adjust the calculation formula to reflect appropriate and fair refining costs.
2. Implement a windfall tax to reclaim excess profits and use the proceeds to directly reduce the oil fund debt.
Calls for a 6-baht excise tax cut following international examples
Additionally, the Democrat Party proposes the government reduce the excise tax by 6 baht and significantly cut value-added tax, retroactively for three months, to alleviate public hardship comparably to other countries that have already taken such measures, as follows.
1. Countries that have reduced excise tax include Indonesia and Australia.
2. Countries that have applied windfall taxes include India and the United Kingdom.
3. Countries currently considering these measures include the Philippines, South Korea, and European Union member states.
Mr. Korn concluded by emphasizing that full public disclosure of all information is the key to resolving this crisis transparently and with accountability.