Energy Minister Eknath Prompan acknowledged the Prime Minister's order to urgently convene the Energy Policy Committee and Oil Fund Management Committee this evening to immediately reduce oil prices following the global crude oil cost decrease, without waiting for Singapore prices.
On 7 July 2026 GMT+7, Energy Minister Eknath Prompan received directives from Prime Minister and Interior Minister Anutin Charnvirakul after the Cabinet meeting to accelerate measures to lower retail oil prices in the country. He has called for an urgent meeting of the Energy Policy Committee and the Oil Fund Management Committee this evening to consider ways to reduce oil prices in line with the reduced costs.
The EPC and OFMC meeting this evening will swiftly consider measures to lower retail oil prices so domestic prices reflect the reduced costs, allowing the public to benefit quickly. This approach does not require waiting for references to Singapore's refined oil prices if crude oil costs have already dropped.