The Committee for the Appropriateness of Fuel Cost Determination (Fuel Cost Committee) has ordered the Ministry of Energy to revise the refining and marketing fee formulas, aiming to cut refinery profits and reduce gasoline prices at the pump to support the public.
On 3 April 2026, Mr. Prayapol Khumsap, former dean of the Faculty of Economics at Thammasat University and a member of the Fuel Cost Committee, disclosed the results of their first meeting held on 2 April. He said the main topic of intensive discussion was the refining fees of oil refineries, a key factor causing pump prices to spike from the usual 2-3 baht per liter to as high as 10-14 baht per liter. Normally, the Energy Policy and Planning Office (EPPO) under the Ministry of Energy calculates refining fees based on Singapore refinery gate prices. They then add transportation costs, insurance, and war risk premiums before deducting crude oil costs. The large gap between the prices of refined oil and crude oil during this crisis has caused abnormally high refining fees exceeding 10 baht. For this reason, the Fuel Cost Committee has resolved to instruct the Ministry of Energy to thoroughly review the calculation formula, examining which cost components are unnecessary or can be reduced, to determine the extent of refinery profit excess.
"In this crisis where people are suffering, if refineries are found to be making excessive profits, it is appropriate to reduce those profits to normal levels without aiming to cause the refineries to incur losses," he said.
Additionally, the committee is considering instructing the Ministry of Energy to set appropriate upper and lower limits for refining fees. The ministry must submit all study results back to the committee by 4:00 p.m. on 3 April to expedite the data summary before presenting it to the Cabinet on 6 April. If the excessive refinery profit portion of the refining fee can be reduced, it will positively impact pump prices, lowering them accordingly and thus helping the public who are currently burdened by expenses.