The Cabinet resolved to authorize the Office of the Oil Fund (ONIE) to borrow 20 billion baht to enhance the oil fund's liquidity and support energy prices amid the global crisis, following a negative balance exceeding 53 billion baht and unpaid amounts to fuel traders, which has resulted in liquidity shortages for operators.
28 April 2026 GMT+7 Ms. Ratchada Thanadirek, spokesperson for the Office of the Prime Minister, revealed that the Cabinet meeting resolved to approve the Office of the Oil Fund (ONIE) to borrow 20 billion baht and to proceed with the borrowing once the Cabinet has approved the public debt management plan.
This follows the conflict involving the United States, Israel, and Iran, which began in late February 2026, causing a reduction in global fuel supply and rising oil prices, affecting retail prices in Thailand and the cost of living for the public.
As of 5 April 2026, data shows the oil fund had a negative balance of approximately 53 billion baht, mostly due to unpaid fuel compensation amounting to around 56 billion baht owed to fuel traders, leading to liquidity shortages among operators, impacting their ability to procure fuel and risking domestic shortages.
Therefore, at the Oil Fund Management Committee meeting on 10 April, it was approved to propose to the Cabinet the borrowing by ONIE to maintain stable domestic fuel prices at appropriate levels during the fuel crisis, with a plan to use the 20 billion baht loan between June and August 2026 and to repay the loan from July 2028 to August 2031.
The Office of the Prime Minister spokesperson added at the end that this loan approval is to enhance the oil fund’s liquidity to help mitigate the energy price crisis, manage fuel prices at reasonable levels, and align with global market conditions during the energy crisis. .