"Eknat" revealed that a 2-baht cut in refinery prices could lower diesel B7 and B20 prices at gas stations by 2.14 baht. He emphasized that all six refineries must cooperate, warning that failure to comply with the law will result in fines and imprisonment.
On 7 Apr 2026 at 13:30 GMT+7, at the Ministry of Energy, Mr. Eknat Phromphan, Minister of Energy and Chair of the Energy Policy Committee (EPC), convened a meeting of the EPC to establish measures addressing refining margins and energy prices.
At 15:20 GMT+7 on 7 Apr 2026, Mr. Eknat Phromphan, Minister of Energy, responded to reporters after announcing the EPC meeting results, which included a decision to reduce refinery prices for diesel B7 and B20. When asked if, once published in the Royal Gazette, the Fuel Fund Management Committee (FFMC) could set and announce pump prices before Thursday, 9 April, Mr. Eknat said he would try, as he is managing multiple issues simultaneously. He also mentioned discussions with the Permanent Secretary of the Energy Ministry about allowing FFMC to communicate prices earlier, without waiting for the Singapore oil market's evening prices.
The Energy Minister further stated, Tomorrow (8 April), a meeting will be held to prepare for lowering pump prices. If refinery prices are cut by 2 baht, diesel B7 and B20 pump prices would decrease by 2.14 baht, including refinery price and taxes. The reduction may be greater for B20, as it has more users.
Regarding which refineries attended or missed the meeting today, Mr. Eknat responded, If the FFMC passes this resolution, refineries are legally obliged to comply. He asked the media to await the refineries' official statements. He reiterated that every drop of B7 and B20 diesel sold by all refineries in Thailand will be 2 baht cheaper. Any refinery that fails to comply will be violating the Petroleum Shortage Prevention and Remedy Act of 1973, which carries penalties including fines and imprisonment.
He confirmed that the law clearly supports this action and that legal counsel from the Office of the Council of State has been consulted. Given Thailand's current abnormal situation, normal mechanisms for setting energy prices cannot be used. When asked if lower domestic oil prices might lead to smuggling abroad, Mr. Eknat replied, "We will arrest them, and our enforcement teams are fully prepared, along with measures to prevent hoarding."
At the end, when asked whether this measure applies to every drop of oil from all refineries regardless of attendance at the meeting, Mr. Eknat said negotiations are ongoing, and the stance of each party will become clear. He gave an example, "We have six refineries; three are willing to cooperate while the other three refuse. Does that mean the three refineries willing to support the country in this crisis should bear the burden for the other three that show no concern? Therefore, the committee believes this is the fairest measure: all six refineries must cooperate." ."
