Comparing critical moments as the oil fund supports "diesel" after Iran took control of the Strait of Hormuz, pressuring the "US – Israel," causing crude oil prices to rise sharply worldwide. Thailand’s solution uses the oil fund to subsidize and stabilize oil prices, resulting in the fund accumulating a deficit. Calculated at a subsidy rate of 15.45 baht per liter for diesel alone on 12 Mar 2026, the daily subsidy exceeds 1 billion baht, meaning every second—just a blink of an eye—over ten thousand baht is spent.
For Thailand, initial measures have been implemented according to the Prime Minister’s orders as follows:
Suspension of exports for four types of fuel, which include:
- Gasoline, gasohol, and base gasoline
- Diesel for rapid rotation engines
- Aviation fuel, Jet A-1 type
- Liquefied petroleum gas (LPG)
- Based on diesel consumption volume of 65 million liters per day
- Oil fund subsidy rate of 15.45 baht per liter
- Total diesel subsidy calculated at 1,004,250,000 baht per day
Data based on the retail oil price structure from the Ministry of Energy, 12 Mar 2026 GMT+7