The Oil Fund, which helps stabilize energy prices, has continued to run a deficit after the Iran war crisis. As of 15 Mar 2026 GMT+7, the Fuel Oil Fund Office updated the deficit to 12.605 billion baht, with total liabilities reaching 74.886 billion baht. It is expected that if the fund continues to be used to prop up prices, it could result in a deficit situation for the fund.
Yesterday (15 Mar 2026 GMT+7), Aekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance and deputy director of the Center for Economic Situation Administration (CESA), stated he had received confirmation from oil traders including Thai Oil, Bangchak, Shell, and Caltex. All importers confirmed no current or forthcoming oil shortages. However, given the ongoing conflict situation, which is abnormal, all consumers should be aware and begin conserving fuel. Even if there is no shortage, raising awareness is important. The more we save, the greater the domestic oil reserves become. Currently, reserves have increased from 60 days to 90 days, with hopes to reach around 100 days. He urged a fair consideration that Thailand holds the largest oil reserves in ASEAN. Comparing to Japan, which has reserves lasting over 200 days, one must consider economic scale and logistics differences.
Regarding oil exports to Laos, he clarified that sales continue. Oil price fluctuations follow global market trends, but the Oil Fund helps stabilize prices and alleviate public hardship as much as budgetary and economic conditions allow.
The Oil Fund has become a crucial support amid soaring oil prices caused by the Iran war crisis. The latest data on 15 Mar 2026 GMT+7 shows that since early 2026, the fund has been in deficit throughout January. However, from 1 Feb to 1 Mar 2026 GMT+7, the fund was in positive territory, but following the escalation of the war crisis, the fund's status again fell into continuous deficit.
The most recent data from the Fuel Oil Fund Office as of 15 Mar 2026 GMT+7 reveals the following status of the Oil Fund:
Deficit of 12.605 billion baht
Total assets of 62.281 billion baht
Total liabilities of 74.886 billion baht
Net fund status: negative 12.605 billion baht