Energy Minister commits to keeping diesel prices under 30 baht per litre with Oil Fund support
Thailand’s Energy Minister Auttapol Rerkpiboon has pledged to keep diesel prices at or below 30 baht per litre using the Oil Fuel Fund, despite global oil price volatility due to geopolitical tensions. The move aims to ease the cost of living for Thai citizens.
Energy Minister Auttapol Rerkpiboon on Friday confirmed that the government is using the Oil Fuel Fund to stabilise domestic fuel prices amid rising global oil prices. As the world grapples with geopolitical tensions, particularly the US-Iran conflict, which has driven crude oil prices up, Thailand has seen the price of Singapore benchmark diesel rise from US$77 per barrel at the start of 2026 to about US$87-88.
Despite the rising costs of oil, the Energy Ministry has managed to prevent domestic fuel prices from increasing by utilising the Oil Fuel Fund. This has allowed for continued price stability for both petrol and diesel. Specifically, the ministry has reduced the diesel contribution from the fund by 2 baht per litre, leaving only 0.20 baht per litre in charge, aiming to keep the price of diesel at 30 baht per litre to avoid impacting citizens’ cost of living.
"We are using the Oil Fuel Fund as a buffer to ensure price stability and prevent the diesel price from rising. The price is currently stable at around 30 baht per litre and the price of LPG for household cooking remains fixed at 423 baht per 15 kg cylinder until the end of March 2026," said Auttapol.
He added that the Ministry has worked to ensure the fund's sustainability, with a steady increase in its balance since October 2025, culminating in a positive fund balance of around 1 billion baht as of February 5, 2026—a significant improvement from the 14.7-billion-baht deficit in October 2025. This progress reflects the Ministry’s successful efforts to manage the fund more effectively and maintain affordable energy prices.
Auttapol emphasised that the main priority is to manage the cost of living, especially for fuel, which directly impacts many citizens. By optimising the Oil Fund, the government has been able to provide continuous reductions in both diesel and petrol prices since his tenure began in October 2025. With the Oil Fund now showing improvement, the Ministry aims to continue this trend of supporting citizens through the volatility of global fuel prices.
