Thailand's cabinet on Tuesday agreed to extend an excise tax cut on diesel for another two months to Jan. 20 next year, due to high oil prices, Finance Minister Arkhom Termpittayapaisith said.

The tax cut of 5 baht per litre will lead to loss revenue of no more than 20 billion baht ($562.43 million), he said. (Reporting by Kitiphong Thaichareon, writing by Chayut Setboonsarng; Editing by Martin Petty)