The oil price situation in Thailand continues to heat up. On 4 April 2026, the Fuel Fund Management Committee (FFMC) made a significant decision to raise the retail diesel price by 2.80 baht per liter. This pushed diesel prices above the critical resistance level of 50.54 baht per liter, effective from 5 April 2026.
Key factors leading the FFMC to reduce subsidies and allow retail prices to reflect actual costs are as follows:
Global market volatility: Crude oil prices on the world market remain at a critical level.
Fuel fund debt surge: Currently, the Fuel Fund carries accumulated debt exceeding 50 billion baht.
Maintaining liquidity: This price increase will help reduce the fund's daily expenditures by approximately 212.03 million baht.
Fuel type | Previous price (baht/liter) | New price (baht/liter) | Difference increase |
Diesel B7 | 47.74 | 50.54 | + 2.80 |
Diesel B20 | 42.75 | 45.54 | + 2.80 |
Looking back from March 2026, a turning point when the government started reducing price caps, diesel prices have surged sharply as follows:
March 2026: 5 increases totaling about 9.00 baht
Early April 2026: Two major hikes (3.50 baht and 2.80 baht)
Early March: Price was fixed at 29.94 baht
Throughout March: Continuous increases over 5 rounds, reaching approximately 38.94 - 40.74 baht by month's end
3 April 2026: Sharp 3.50 baht increase pushed price to 47.74 baht
5 April 2026 (latest): Another 2.80 baht increase surpasses 50.54 baht
From early March to early April 2026, diesel prices have risen over 20.60 baht per liter, marking one of the steepest increases in Thai economic history, aiming to rescue the fuel fund facing a massive negative balance.