Previously, social media was ablaze when the top beauty queen and host Bum Panadda Wongpudi had warned earlier that oil prices could reach 40-50 baht per liter, sparking controversy. Now, oil prices have risen by 6 baht per liter, effective from 26 Mar 2026 GMT+7.
This time, Jack Green from Thairath Entertainment interviewed Bum Panadda about the 6 baht per liter oil price hike. She elaborated on the situation, saying that the public is bearing the entire burden alone, and questioned the government's role in controlling the situation.
Asked about the 6 baht per liter oil price increase?
"I told everyone last week that oil prices would definitely rise—you would see numbers reaching 40-50 baht. Back then, people criticized me, but now you see I was right. Those who criticized me then all feel it now. When I spoke last time, I wasn’t dictating what should happen, but I meant that the government at least needs to show respect and communicate honestly with the public. They should use their authority—something the citizens don’t have—to tell the refineries and big traders not to let the public bear all the burden. Currently, refineries refuse to lose any revenue or profits; they’re not running at a loss but won’t sacrifice any of their profits."
"Assuming the oil cost is 20 baht, they sell it to us at 20 baht, a price supposedly based on oil produced in Saudi Arabia or other countries, meaning they have to sell at 20 baht. But the extra 5-7 baht we pay is purely an assumed cost covering transportation and taxes, which actually don’t apply. We base prices on foreign markets and assume the oil isn’t produced in Thailand but imported from Saudi Arabia, even though only about 25% of the oil in our region is imported."
"The oil we’ve paid for is subsidized by a reserve fund to keep prices at 20 baht when costs rise. For example, if prices push to 23 baht, the fund—money contributed by the public—covers the 3 baht difference to maintain the 20 baht price. When prices hit 25 baht, that fund covers the extra 5 baht, but that fund is actually our money."
"Now, that reserve fund is in the red; there’s no money left to subsidize. Oil prices have jumped as we pay at the pump. So it’s time to question that all this money has come from the public, and now it’s the public’s money keeping things afloat while the refineries aren’t losing anything."
"Actually, the reserve fund should have subsidized up to 10 baht, not 20. The higher amount guarantees profits, not losses. So, refineries have never faced losses, only profits, until now. The stock we pay for at over 50 baht is actually old stock, purchased at 20 baht, not the current 20 baht price."
"That means refineries gain over 40 baht in profit from last week, refusing to release oil. Some gas stations ran out of fuel or limited sales to 500 baht per car because they wanted to stockpile, knowing the Prime Minister ordered all stations to have fuel available. But the Prime Minister cannot force refineries to keep prices steady, so they increased prices, making profits since their costs remain at 20 baht but selling prices are over 50 baht."
"In everyday terms, that’s just heartless. The public suffers. I’ve heard that ‘the masked ones’ refer to the refineries?"
"Are refineries the ‘masked ones’? When I said earlier that people were stockpiling, it wasn’t like we filled up hundreds of liters with containers. People criticized me, asking why I didn’t support the government’s work."
"I’m just speaking the truth because I have no power to force refineries to produce fuel or compel gas stations to sell immediately. They choose not to sell. I have to be the voice for the people, saying it’s the government that has the authority to enforce this. Ministers know exactly how many refineries exist and where the oil is. The Permanent Secretary of the Ministry of Energy knows best but has never made any public statements since the problem began."
"The Prime Minister relies on reports from the Permanent Secretary that there is oil, and he says oil is available and urges people not to panic. But how can people not panic when pumps show no fuel? So, don’t just look at reports; officials need to see what’s happening on the ground. But so far, the government hasn’t been able to control the big players, so this situation continues."
"Another issue is that people preparing for Songkran expect good income as many travel, but trips are being cancelled. Tourism is definitely affected. Right now, expenses have risen, and soon costs for plastic and even bottled water will increase because prices are higher, while incomes remain the same."
"The question now is, what can the public do? It’s too late to fix it now. For those of us wanting to offer support, we know stress is inevitable. We must tighten our belts. In situations like this, unexpected things happen—people fall ill and need large hospital expenses when money is tight. So, take good care of your health and mental well-being. Don’t stress excessively; look at each other and offer encouragement. That’s what we can do."
"Will oil prices rise further?"
"(Nods instead of answering) There may be shortages. For example, oil arrives at pumps 1, 2, 3, 4, 5, but if an explosion occurs at pumps 1-2, then 3, 4, 5 will face shortages. During that gap, prices spike because of the shortage. That’s why we must tighten our belts. Prices will surge again until stocks are replenished."
"Will electricity prices also rise?"
"We have been paying and bearing electricity costs for a long time. When oil can’t be used to produce electricity, gas is used instead, but where does that gas come from? Its price is even higher than oil, raising production costs and forcing us to pay more for electricity. Refineries and power plants are no different; we bear all these costs without losses on their side."
"What message do you have for the Prime Minister?"
"I wouldn’t direct this to him alone because this requires teamwork. Mr. Anutin, Ms. Supachai, and all officials the public expects to act—this involves every ministry. The burden may fall more on the Ministry of Tourism to attract tourists to generate income to compensate."
"It’s time for everyone to cooperate, not just one person. Especially permanent officials who serve as advisors on commissions or companies, sometimes wearing two hats—one representing the public, the other company interests. But maybe it’s time for public interest to come before profits."
"Has the Prime Minister switched to a new electric car?"
"He has the money; he can do whatever he wants. (smiles)"
"Any encouragement for fans?"
"Let’s hold hands tightly during this time and keep encouraging each other. Sending support to all Thairath fans."
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