PATTAYA, Thailand – Energy officials have clarified that the recent 6-baht-per-liter increase in fuel prices was necessary due to ongoing instability in the Middle East, which has driven global oil prices higher and placed pressure on the Oil Fuel Fund. The adjustment aims to stabilize the fund and ensure it can continue managing domestic price levels.
Pornchai Chirakulpaisan, director of the Policy and Planning Office, Oil Fuel Fund Office, said prolonged tensions have led to sustained increases in global oil prices, directly affecting Thailand’s fuel costs. The fund is facing a growing deficit of about 35 billion baht and is absorbing losses of roughly 2 billion baht per day.
Authorities also pointed to regional trends, with neighboring countries such as Malaysia raising fuel prices sharply under similar conditions. Despite the adjustment, Thailand’s fuel prices remain comparatively lower than those in nearby markets.
The Oil Fuel Fund will continue to provide targeted support for key fuel types, including diesel and selected gasohol blends, to help limit the impact on the economy and household expenses. The public, meanwhile, is urged to conserve energy as global oil market volatility continues. (NNT)
