BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved a law to guarantee up to 150 billion baht ($4.23 billion) in loans for the state oil fund to support energy prices as the government fights inflation, according to a government source and local media reports.
The measure still has to be examined by the Council of State, a government office that vets laws, the source said, before final sign off from parliament.
The Oil Fuel Fund Office was about 117 billion baht ($3.30 billion) in the red as of Aug. 14, as Thailand used it to support subsidies and manage oil prices in a bid to slow inflation hovering around 14-year highs in July.
($1 = 35.45 baht)
(Reporting by Panarat Thepgumpanat; Writing by Orathai Sriring; Editing by John Geddie)
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