Energy Minister caps diesel at 29.94 baht for 15 days using Oil Fuel Fund
Thailand will hold diesel at 29.94 baht/litre nationwide for 15 days, funded by adjustments to the Oil Fuel Fund amid global price volatility
Measures to continue supporting the public to ease the cost of living amid the Middle East crisis
Today (March 3, 2026), Auttapol Rerkpiboon, Minister of Energy, in his capacity as chairman of the Oil Fuel Fund Administration Committee (OFAC), said the OFAC meeting resolved to cap the retail price of diesel at 29.94 baht per litre for a further 15 days, even though global oil prices have risen, effective from today onwards.
After the 15-day period, the committee will consider further measures to assist the public again.
From tomorrow, all fuel service stations nationwide will sell diesel at 29.94 baht per litre.
The measure includes increasing diesel compensation by 2.77 baht per litre, and reducing contributions collected into the Oil Fuel Fund for fuels in the petrol group by 0.38–0.70 baht per litre. As a result, retail prices for all diesel and petrol types at service stations will remain unchanged.
“At present, the Ministry of Energy has set up a war room to monitor the war and fighting in the Middle East between Israel and the United States and Iran, as it is likely to widen and could affect the potential closure of a key oil transport route, the Strait of Hormuz.
The Ministry of Energy therefore must closely watch and analyse the situation, as global crude oil prices continue to signal ongoing volatility.
To ensure people in the country are not overly affected, the OFAC meeting has used the Oil Fuel Fund mechanism to help cushion the impact—by reducing the collection into the Fund for petrol and gasohol so that retail prices remain unchanged.
Please be assured that Thailand will continue to have sufficient oil reserves, with no shortages, and prices will remain at an appropriate level without excessively affecting the public,” Auttapol said.
At present, the status of the Oil Fuel Fund as of March 1, 2026 is positive at 2,459 million baht.
Anutin Charnvirakul, as head of government, has stated his position via social media, ordering the Ministry of Energy and relevant agencies to strictly implement the diesel price cap in line with the OFAC resolution. He also instructed all service stations, particularly PTT stations, to sell diesel at the set price of 29.94 baht per litre.
