The Ministry of Energy explained that the prolonged conflict has caused global oil prices to surge continuously. Although domestic prices have been raised, the Oil Fund still needs to subsidize diesel by as much as 19 baht per liter. When compared within the ASEAN group, Thailand's diesel prices remain cheaper than Malaysia's.
On 26 Mar 2026 GMT+7, Mr. Weerapat Kiatfuangfu, spokesperson for the Ministry of Energy, stated that the ongoing hostilities involving the United States, Israel, and Iran have been more intense and prolonged than initially expected. This has rapidly driven up global oil prices, affecting not only Thailand but countries worldwide. Consequently, Thailand had to adjust domestic oil prices to reflect the situation while continuing to use the Oil Fund to mitigate the severe impact of volatile global market prices caused by the conflict. Even countries with their own crude oil sources, like Malaysia, recently raised diesel prices by 7 baht per liter. This brought Malaysia's retail diesel price to 45.59 baht per liter, a price that does not include taxes as Thailand's does. Thailand's diesel price stands at 38.94 baht per liter. Comparing diesel prices with other ASEAN countries, such as Singapore at 100.26 baht, the Philippines at 68.26 baht, Laos at 64.14 baht, and Vietnam at 47.16 baht, Thailand's retail diesel price remains relatively low.
Currently, the Oil Fund continues to work hard to ease living costs for the public. As of today, it subsidizes diesel by as much as 19.12 baht per liter, amounting to 1.7 billion baht per day. Since the crisis began, the Oil Fund has provided a total subsidy of 38 billion baht. The Ministry of Energy is urgently consulting with the Ministry of Finance regarding reducing excise taxes on oil, while carefully considering the country's fiscal stability. Additionally, preparations are underway to introduce measures to assist vulnerable groups. Meanwhile, shortages of fuel at stations in various areas have started to ease. Provincial energy offices nationwide remain closely monitoring the situation to resolve issues promptly for the public.
"The Ministry of Energy is fully committed to helping the people. Following the conflict, global oil prices surged rapidly. The government has made every effort to minimize the impact on citizens. However, due to the prolonged and intense nature of the situation beyond expectations, it became necessary to adjust domestic oil prices to align with global market prices, alongside managing the Oil Fund's burden with sensitivity to the public's cost of living. I appeal to the public to understand that this conflict is more severe than previous ones and shows no sign of ending soon. All countries worldwide are affected. Everyone is urged to use energy efficiently and adapt their lifestyles to prepare for this crisis. The Ministry of Energy will continue to monitor closely and apply all available measures to support the public through this difficult time."