Thailand says diesel stocks sufficient on September 24
Thailand’s Energy Ministry pledges Oil Fuel Fund support, refinery price cuts and greater B20 use as global diesel costs put pressure on consumers.
- Thailand's Energy Ministry confirmed on September 24 that the nation's diesel reserves are sufficient to meet public and business demand.
- The government will continue using the Oil Fuel Fund and other measures to cushion consumers from the impact of sharply higher global diesel prices.
- The ministry attributes the high prices to global factors, including reduced refining capacity, a potential US export suspension, and an extended Russian ban on diesel exports.
Thailand has enough diesel to meet public and business demand, the Energy Ministry said on September 24, 2026, while pledging to continue using the Oil Fuel Fund and other measures to cushion consumers from sharply higher global prices.
Veerapat Kiatfuengfoo, deputy permanent secretary for energy and ministry spokesperson, said officials were closely monitoring severe volatility in the global diesel market. Thailand’s domestic diesel reserves remained sufficient to meet demand, he said.
Energy Ministry pledges continued diesel price support
The Energy Ministry would continue using the Oil Fuel Fund to manage prices and minimise the impact on household living costs, Veerapat said. The response also includes efforts to lower prices charged at refinery gates and encourage the use of alternative fuels such as B20.
Veerapat acknowledged that the global energy crisis was directly affecting costs and appealed for public understanding of the pressures behind the current price situation.
Refining constraints drive global diesel price increases
Veerapat said movements in crude oil prices alone did not explain the sharp rise in diesel costs. Reduced refining capacity and lower volumes of diesel available on international markets had tightened supply, pushing prices up rapidly.
The Energy Ministry also identified policy developments in major producing countries as an important source of market volatility, pointing to reports of possible US export restrictions and a further extension of Russia’s ban.
Ministry highlights US and Russian diesel export uncertainty
The Energy Ministry’s assessment cited reports that Donald Trump might consider suspending US diesel exports to help control domestic energy prices. The assessment put US diesel prices at US$6.50 per gallon, 75% above a year earlier, and gave an approximate equivalent of 57.15 baht per litre.
Russia, meanwhile, was likely to extend its ban on diesel exports by producers for another month, until October 31, 2026, according to the ministry’s account. Several Russian refineries had yet to resume normal production following Ukrainian attacks.
The Energy Ministry said Russia had begun enforcing the ban on July 8, 2026. Citing Russian diesel exports of 813,000 barrels per day in 2025, the ministry said the loss of Russian supplies was adding to the pressure on global availability.
The Energy Ministry urged the public to cooperate by using energy sparingly, alongside its efforts to limit the impact of international price pressures on living costs.
