Thailand Raises Fuel Prices by 0.85 Baht per Liter
Thailand raised fuel prices by up to 1.50 baht per liter effective September 15, driven by Middle East supply disruptions and record refining costs that depleted the Oil Fund's compensation reserves.
On September 14, 2026, Thailand's Oil Fund Management Committee (OFMC) approved a retail price increase of 0.85 baht per liter across all fuel types, effective September 15, 2026. The increase stems from ongoing geopolitical tensions, attacks on oil tankers along critical Middle East shipping routes, stalled international negotiations, and production losses in the Persian Gulf region totaling millions of barrels daily. These factors have created severe supply shortages and record-high refining costs, pushing diesel prices in Singapore above 195 US dollars per barrel and gasoline near 147 US dollars per barrel on September 14. The Oil Fund has been bearing daily compensation costs of approximately 770 million baht and needed to reduce this burden to maintain long-term price stability. For diesel: regular-grade rises 1.08 baht per liter to a retail price of 40.69 baht per liter; B20 rises 0.88 baht per liter to 35.69 baht per liter; premium diesel rises 1.50 baht per liter. For gasoline and gasohol: regular gasoline rises 0.08 baht per liter to 48.93 baht per liter; Gasohol 95 falls 0.14 baht per liter to 39.94 baht per liter; Gasohol 91 falls 0.14 baht per liter to 39.57 baht per liter; Gasohol E20 falls 0.21 baht per liter to 34.94 baht per liter; Gasohol E85 falls 0.62 baht per liter to 30.88 baht per liter. The committee reaffirmed its commitment to maintaining appropriate retail fuel prices and urged the public and all sectors to conserve energy to reduce living costs and oil import dependency.
