BANGKOK, Thailand – The Ministry of Energy is closely monitoring the global energy surge caused by Middle East tensions, which has driven Dubai crude oil prices up by 122% to approximately $158 per barrel as of March 20.
Deputy Director-General of the Energy Policy and Planning Office Watcharin Boonyarit stated that, in response to this volatility, the Ministry has deployed the Oil Fuel Fund to subsidize domestic prices and mitigate the impact on the cost of living. Currently, domestic diesel is priced at 31.14 baht per liter, while Gasoholic E10 is priced at 33.05 baht per liter.
To reduce reliance on expensive imports, the Ministry has implemented key policy shifts, including increasing the use of domestic energy sources by transitioning from B5 to B7 and maintaining a 5 Baht per liter price gap between Gasohol 95 E10 and E20 to encourage the use of renewable fuels.
While neighboring ASEAN countries like Indonesia, Singapore, Vietnam, the Philippines, and Malaysia have seen diesel prices rising respectively, the Deputy Director-General emphasized that Thailand’s strategic management aims to cushion the impact on the public’s cost of living. He also urges all citizens to use energy efficiently to strengthen long-term national security. (NNT)
