New Thai Government Poised to Tackle Oil Price Struggle

Thailand's Prime Minister, Anutin Charnvirakul, announced on Saturday that he anticipates the establishment of a new government next week. The list of cabinet members is slated for submission for royal endorsement on Monday.

In addressing the nation, Anutin emphasized the new government's commitment to delivering a prompt policy statement to parliament, enabling it to commence its work expeditiously. He expressed apologies for the problems caused by oil price management strategies implemented earlier in the year.

As the conflict in the Middle East continues, the government found it necessary to adjust its approach, now focusing on reducing the oil tax among other measures to mitigate the effects of soaring oil prices. Currently, Thailand maintains oil reserves sufficient for the next 100 days.