Thailand Raises Fuel Prices 0.90 Baht Per Liter Amid Global Crisis
All fuel prices in Thailand rise 0.90 baht per liter starting July 23 due to Middle East tensions, Red Sea shipping disruptions, and surging global oil costs, though government subsidies cushion some impact.
Praichai Jirakoolpaisal, director of the Oil Fund Policy and Planning Office, explained that the Petroleum Fund Management Committee has approved increased fuel subsidies to ease the impact, though all fuel types will still rise 0.90 baht per liter. The spike stems from renewed and prolonged conflict in the Middle East following failed negotiations, combined with expanded attacks across the Arabian Gulf region and Iran's threat to close the Strait of Hormuz. Tensions have further intensified in the Red Sea, where Houthi forces from Yemen have escalated maritime blockade measures and threatened to attack oil tankers and cargo ships using Red Sea ports. This has forced many oil tankers to divert routes, causing shipping costs to spike immediately.
The global oil market has experienced continuous price increases as a result. Singapore diesel prices surged dramatically on July 22, 2026, reaching $163.59 per barrel, while gasoline climbed to $124.92 per barrel. The oil fund faces a daily compensation burden of approximately 651.31 million baht, making it necessary to urgently adjust fund rates to absorb fuel price volatility in the global market.
For diesel fuels, regular speed diesel subsidy increased by 0.78 baht per liter, bringing total subsidy to 8.57 baht per liter and retail price to 36.69 baht per liter. B20 diesel subsidy rose by 0.56 baht per liter to 12.95 baht per liter, setting retail at 31.69 baht per liter. Premium diesel carries a collection of 1.50 baht per liter.
For gasoline and gasohol, regular gasoline collection decreased by 0.41 baht per liter to 4.19 baht per liter, with retail at 45.68 baht per liter. Gasohol 95 subsidy increased by 0.30 baht per liter to 2.89 baht per liter, retail at 36.69 baht per liter. Gasohol 91 subsidy rose by 0.30 baht per liter to 2.89 baht per liter, retail at 36.32 baht per liter. E20 gasohol subsidy increased by 0.17 baht per liter to 6.47 baht per liter, retail at 31.69 baht per liter. E85 gasohol subsidy decreased by 0.53 baht per liter to 4.37 baht per liter, retail at 27.63 baht per liter. These new fund rates take effect from July 23, 2026.
"During this period of energy security volatility, we request cooperation from all sectors of society. Please understand the current situation and join in changing energy consumption behavior—use energy conscientiously, only as needed, and as efficiently as possible."
Beyond reducing consumer costs, these adjustments also ease the country's burden and strengthen the fund's resilience so it can continue to sustainably support all citizens.
