Oil Fund Raises Diesel, Gasohol Prices 60 Satang Per Liter

The Oil Fuel Fund Committee resolved to raise retail prices for diesel B7, gasohol E10 95 and 91, and benzene by 0.60 baht per liter, effective October 21 at 5:00 AM, while gasohol E20, E85, and diesel B20 prices stay the same. Key drivers include Houthi attacks on Saudi energy infrastructure and shipping in the Persian Gulf, which forced tankers to reroute around Africa, spiking freight costs and cutting oil imports to Singapore. Tighter supply combined with a 3.2-million-barrel drop in US crude inventories — well above forecasts — pushed global prices higher. On October 20, Singapore diesel prices jumped about $1.78 per barrel and gasoline about $1.36, leaving the fund facing a daily compensation burden of roughly 229 million baht. Consequently, the committee adjusted the fund's collection and compensation mechanisms to maintain liquidity and long-term price stability. For diesel: B7 compensation rises 0.69 baht to 2.41 baht per liter (retail 43.54 baht); B20 compensation rises 1.08 baht to 7.63 baht (retail unchanged); premium diesel collection set at 1.50 baht. For gasoline and gasohol: benzene collection falls 0.29 baht to 6.61 baht (retail 51.03 baht); gasohol 95 and 91 compensation rises 0.22 baht to 0.28 baht (retail 42.04 and 41.67 baht); E20 compensation rises 0.69 baht to 4.91 baht (retail unchanged); E85 compensation rises 0.22 baht to 1.62 baht (retail unchanged). The new fund rates take effect October 21. Amid ongoing global price volatility, the fund urges the public to use fuel wisely and only as needed, noting that small behavioral changes reduce personal costs, lower national crude imports, and strengthen the fund's ability to protect consumers sustainably.