Oil shock buffer — Thailand says reserves cover 110 days
Energy Ministry updates Thailand’s oil reserves, diesel prices and fuel fund deficit as Middle East tensions push crude above $105
The Energy Ministry has reported Thailand’s latest energy situation, including domestic oil reserves, diesel supply and sales, retail fuel prices and the status of the Oil Fuel Fund as of April 24, 2026.
The ministry said the situation in the Middle East remained uncertain, despite US President Donald Trump announcing a three-week extension of the ceasefire between Israel and Lebanon.
Iran, meanwhile, is facing internal government problems, while military confrontation in the region continues. Iran has seized a large cargo vessel in the Strait of Hormuz to pressure the United States into lifting its blockade, while Washington has insisted it will continue blocking Iranian ports until an agreement is reached.
The United States has also ordered its navy to destroy Iranian vessels laying mines in the Strait of Hormuz and recently seized an oil tanker linked to Iran in the Indian Ocean.
The tensions and restrictions on shipping through the Strait of Hormuz have pushed energy prices higher. On April 23, Brent crude closed at US$105.07 per barrel, while Dubai crude rose to US$104.81 per barrel.
Thailand has 110 days of oil supply
According to data as of April 24, Thailand has enough oil to meet domestic demand for about 110 days.
This includes:
- 25 days of legally required oil reserves
- 25 days of commercial reserves
- 41 days of oil in transit
- 19 days of confirmed supply procurement
Diesel output exceeds sales
For diesel, average data from April 1–22 showed Thailand produced 78.15 million litres of diesel, while sales stood at 52.10 million litres.
On domestic retail fuel prices, the Committee on Energy Policy Administration (CEPA) resolved on April 23 to cut the diesel refinery margin by an additional 3 baht per litre.
This comes on top of an earlier 2-baht-per-litre reduction, bringing the total cut to 5 baht per litre. The measure is effective from April 24 to May 9, 2026.
The ministry said the refinery margin cut must be considered alongside management of the Oil Fuel Fund.
The Fuel Fund Management Committee also resolved to reduce the retail price of high-speed diesel by 1.50 baht per litre.
As a result:
- Diesel B7 is now 40.20 baht per litre
- Diesel B20 is now 33.20 baht per litre
Petrol and gasohol retail prices remain unchanged:
- Gasohol E20: 35.45 baht per litre
- Gasohol 95: 42.45 baht per litre
- Gasohol 91: 42.08 baht per litre
Thai fuel prices remain lower than many Asean markets
The ministry said Thailand’s average petrol price stands at 42.45 baht per litre, while petrol prices in Cambodia, the Philippines, Laos, Myanmar and Singapore range from 48.03 to 87.66 baht per litre.
Thailand’s diesel price is 40.20 baht per litre, while diesel prices in Malaysia, Indonesia, Cambodia, the Philippines, Laos, Myanmar and Singapore range from 43.48 to 118.57 baht per litre.
As of April 24, the Oil Fuel Fund was estimated to be 62.27 billion baht in deficit.
The fund is currently subsidising diesel by around 127.59 million baht per day.
