Thai Energy Minister Slashes Fuel Prices in 'Quick Big Win' Move
Auttapol Rerkpiboon orders immediate cuts of 50 satang per litre for diesel and 30 satang for petrol to combat rising cost of living pressures
- As part of its "Quick Big Win" policy, Thailand's Energy Ministry has cut the retail price of diesel by 50 satang per litre and petrol by 30 satang per litre.
- The price reduction is intended to provide immediate relief to the public from the escalating cost of living.
- This move was made possible by a drop in global oil prices, driven by reduced geopolitical risks and predictions of a global oil supply surplus.
- The 50 satang cut for diesel is the second consecutive reduction in a month, underscoring the new administration's focus on delivering swift results.
The Thai Ministry of Energy has announced immediate price reductions for both diesel and petrol as part of the new administration’s "Quick Big Win" policy aimed at delivering tangible, swift results.
On Monday, Auttapol Rerkpiboon, the Energy Minister and chairman of the Fuel Fund Executive Committee (FFEC), confirmed the price adjustments following a review of the global oil market.
The cuts are designed specifically to mitigate the public’s escalating cost of living burden.
Effective from Tuesday, 21 October 2025, the retail price of:
- Diesel will be reduced by 50 satang per litre.
- Petrol (gasoline) will be reduced by 30 satang per litre.
The minister confirmed that the 50 satang reduction for diesel is a second consecutive cut, following an initial reduction earlier in the month (3 October) which brought the retail price down from 31.44 baht/litre to 30.94 baht/litre.
Global Factors Drive Down Prices
The decision was underpinned by improving conditions in the global energy market.
Data indicates that Dubai crude oil has dropped to $61.32 per barrel, with diesel at $82.32 per barrel and petrol at $77.59 per barrel.
The key factors driving this decline include reduced security risks following the de-escalation of potential attacks by Ukraine on Russian refinery networks and the relaxation of diplomatic pressures on nations importing Russian oil.
Furthermore, the International Energy Agency (IEA) predicts that the global oil supply may soon exceed demand, a result of the OPEC+ group increasing production and a general slowdown in the global economy which has tempered energy demand worldwide.
Focus on Transparency
Auttapol stressed that the price reduction is a core element of the "Quick Big Win" policy, which aims to utilise the Fuel Fund to stabilise the grassroots economy.
“Energy is a matter close to home that directly impacts the well-being of the people,” Auttapol said, adding that the price adjustments were executed under the FFEC's core principles of "openness, transparency, and accountability."
The Energy Minister reaffirmed the government’s commitment to its four-month mandate under the Quick Big Win strategy, promising clear results in reducing energy costs and establishing long-term energy security.
Fuel Fund Status
The overall financial position of the Fuel Fund has continued to improve, registering a net deficit of 14.754 billion baht as of 19 October 2025.
This figure comprises a 26.910 billion baht surplus in the oil account and a 41.664 billion baht deficit in the LPG account.
The current adjustment is expected to decrease daily revenue from the petrol category to approximately 83.17 million baht (down from 92.79 million baht), while the daily revenue from the diesel group remains steady at 61.70 million baht.
