The three ministries—Commerce, Energy, and Finance—led by Deputy Prime Minister "Supachai" are ready to support the public in facing volatile oil prices and are accelerating efforts to closely reduce the impact on the cost of living.
Ms. Supachai Suthammanphun, Deputy Prime Minister and Minister of Commerce, revealed after chairing a joint meeting with the Ministry of Energy and the Ministry of Finance on 31 March 2026 at the Kittiyakornworalak Meeting Room, Office of the Permanent Secretary of the Ministry of Commerce, that the government has closely integrated efforts to monitor fluctuating global oil prices and their impact on the cost of living. The focus is on reducing expenses and building confidence amid ongoing uncertainty.
This meeting was a collaborative discussion among key economic agencies to exchange information and establish policies to mitigate the impact on the public. It was not an exercise of any single agency’s legal authority but a policy-level cooperation to ensure comprehensive public care.
Ms. Supachai stated that oil price volatility affects many sectors, including travel costs, food prices, production expenses, and daily goods prices. Therefore, the three ministries (Commerce, Energy, and Finance) have jointly set regulatory guidelines prioritizing support for vulnerable populations and low-income groups while stabilizing businesses to prevent rising costs from being passed on to consumers.
The meeting reviewed the entire oil price structure—from refining and transportation to retail—to ensure prices reflect true costs transparently and fairly. They considered establishing a refining margin range with high and low limits to balance the interests of operators and consumers and avoid worsening social hardships.
Additionally, discussions included ways to enhance energy security by exploring additional energy sources and diversifying supply options to reduce risks from global market fluctuations. At the same time, regulatory oversight will be tightened; any hoarding or consumer exploitation will be strictly prosecuted under the law.
The government is also preparing targeted assistance measures for specific groups such as low-income earners, transport operators, farmers, and affected businesses to sustain the economy and improve citizens’ quality of life.
Ms. Supachai emphasized that this cooperation among the three ministries aims to minimize impacts before they reach the public and to reassure that the government is closely managing the situation so all sectors can navigate energy price volatility together.
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