The Energy Policy Committee (EPC) announced a 2.14 baht per liter diesel price reduction at all gas stations following Energy Minister Eknat's adjustment of the refinery margin formula to reduce the public's burden, effective tomorrow. The committee also agreed to lower subsidy rates after global oil prices declined, aiming to support the still-crisis Oil Fund.crisis
On 8 April 2026, reporters reported that Mr. Eknat Phrompan, Minister of Energy and chair of the Oil Fuel Fund Management Committee (EPC), revealed the results of the Energy Policy Committee meeting (EPC), which approveda price reductionat refinery gates for diesel B7 and B20 by 2 baht per liter, marking the first price cut in history. This uses a new Singapore central market reference formula, resulting in a retail price cut of 2.14 baht per liter at gas stations. Consequently, retail diesel prices at stations will be 48.40 baht per liter for B7 and 43.40 baht per liter for B20, effective from 9 April 2026 onward.
Furthermore, the EPC approved reducing the diesel subsidy rate following a continuous decline in global oil prices. The global market price on 2 April was about 293 US dollars per barrel, dropping to approximately 255 US dollars per barrel on 7 April. Accordingly, the B7 diesel subsidy was cut by 3.54 baht per liter (from 18.54 to 15.00 baht per liter), and B20 diesel subsidy reduced by 3.06 baht per liter (from 20.09 to 17.03 baht per liter). This decreases the Oil Fund's daily expenditure by 288.44 million baht from the previous 1,533.05 million baht.expenditureof 1,244.61 million bahtThe reduction in subsidy ratesthis time aims to maintain balance and stabilize the Oil Fund going forward.
As for the estimated status of the Oil Fund as of 8 April 2026, the overall situation remains concerning, with a total negative balance exceeding 57.762 billion baht, divided into a negative oil account of 20.254 billion baht,and LPG accountwith a negative balance of 37.508 billion baht.