Oil Fund submits 4 urgent agenda items as Auttapol reviews diesel price cap at 30 baht

The Oil Fuel Fund Office (OFFO) has reported four critical issues to the Minister of Energy, calling for swift policy decisions. These include the fourth round of recruiting a new director, appointing expert members to complete the quorum of the Fund’s management board, updating the 2025–2029 oil crisis plan, and setting criteria to reduce biofuel subsidies ahead of the legally required phase-out in 2026.

Pornchai Chirakulpaisan, Director of the Policy and Planning Office, Oil Fuel Fund Office (OFFO), said the fund had submitted four urgent agenda items to Energy Minister Auttapol Rerkpiboon to ensure effective management of oil and LPG prices, while preparing for new legal requirements that will soon take effect.

1. Fourth-round recruitment of a new OFFO director

The director position has been vacant since August 2024 following the completion of former director Wisak Wattanasap’s term (Aug 16, 2020 –Aug 16, 2024). The current recruitment is now entering its fourth round, as widely reported in the media.

Pornchai stressed that although a formal director is not required for day-to-day operations—since a committee currently screens and reviews decisions—the appointment of a new director is necessary to ensure agility and long-term strategic direction.

2. Appointing expert members to complete the Fuel Fund Executive Committee

Four expert positions remain unfilled. The law requires the Fuel Fund Executive Committee to consist of:

• One financial expert
• One energy expert
• Two management experts

Applicants must be under 70 years old and preferably under 65 on the application date. Both active and retired professionals are eligible. The appointment of the committee chair will be considered separately by the Energy Policy and Planning Office (EPPO).

Pornchai said expert members are a key mechanism for providing consultation, recommendations, and policy support, including deliberation on major resolutions to maintain fuel price stability nationwide.

3. Drafting a new 2025–2029 crisis plan, including review of the 30-baht diesel cap

The OFFO is preparing a new oil price crisis plan (2025–2029) to replace the previous one that expired in 2024. The plan will revise the framework for managing fuel and LPG prices to better reflect current costs and economic conditions. It will also redefine what constitutes an “oil price crisis” to ensure timely and targeted interventions.

Key elements include reviewing price caps:
• Diesel: 30 baht per litre
• LPG: 423 baht per 15-kg cylinder

The previous plan was submitted under the former government to then–Deputy PM and Energy Minister Pirapan Salirathavibhaga but was not approved. The OFFO is now resubmitting it to Auttapol Rerkpiboon, in his capacity as EPPO chair, for consideration by the National Energy Policy Council (NEPC) and the Cabinet.

4. Establishing criteria to “reduce biofuel subsidies” before the legal phase-out in 2026

The 2019 Oil Fuel Fund Act requires the termination of all subsidies for plant-based fuel components (gasohol and biodiesel) from September 24, 2026 onward.

After that deadline, the Fund may only intervene during a crisis. OFFO must therefore urgently develop rules and procedures to avoid gaps in biofuel price management after subsidies end.

The four issues raised reflect the urgent need to stabilise Thailand’s energy pricing system during a critical transition period—across personnel, governance structures, and policy frameworks—particularly ahead of the end of biofuel subsidies in 2026, which may affect household energy costs.

Progress on these matters is not only essential for the Fund but also requires ministerial and Cabinet-level decisions to ensure Thailand’s energy system remains stable, transparent, and resilient amid global energy volatility.