Oil Fund deficit hits ฿63bn as Thailand holds energy prices

Thailand’s Oil Fuel Fund was ฿63.44 billion in deficit as of May 7, 2026, as the government continued using the mechanism to support domestic energy prices amid volatile global oil markets.

The Energy Ministry reported the latest domestic and international energy situation, diesel reserves and sales, and the position of the Oil Fuel Fund on May 7.

The ministry said tensions in the Middle East had recently shown signs of easing significantly after reports that the United States and Iran were moving closer to an agreement to end the war.

Iranian authorities are now considering the proposal and are expected to respond soon. A deal could allow energy shipments through the Strait of Hormuz to become safe again and may also open the way for sanctions to be lifted.

However, the situation remains fragile, as the US leader has warned of stronger attacks if negotiations fail.

The positive diplomatic developments have eased market concern over the risk of oil supply disruption in the region, although demand-side signals remain strong as US commercial crude and refined product stocks have declined.

Hopes that the war may be nearing an end caused global crude prices to fall sharply on the previous day, before recovering slightly and moving in a volatile range as investors waited for clearer details of any agreement.

On domestic oil reserves, the ministry said Thailand had enough oil to meet demand for about 109 days as of May 7.

This comprised 25 days of legally required reserves, 28 days of commercial reserves, 37 days of oil in transit, and 19 days of supply that had already been confirmed.

For diesel production and sales, average data from May 1-5 showed Thailand produced 68.60 million litres of diesel and sold 56.48 million litres.

Domestic retail oil prices remained unchanged. Diesel B7 was priced at ฿40.80 per litre and diesel B20 at ฿33.80 per litre. Gasohol 95 stood at ฿43.30 per litre, Gasohol 91 at ฿42.93, and Gasohol E20 at ฿36.30.

Compared with Asean countries, Thailand’s average petrol price was ฿43.30 per litre, while prices in the Philippines, Laos, Cambodia, Myanmar and Singapore ranged from ฿44.97 to ฿88.15 per litre.

Thailand’s diesel price was ฿40.80 per litre, compared with ฿44.12 to ฿116.69 per litre in Malaysia, Cambodia, the Philippines, Indonesia, Laos, Myanmar and Singapore.

The Oil Fuel Fund’s estimated position as of May 7 was a deficit of ฿63.44 billion, while the fund was receiving about ฿29.89 million per day.