Transport Costs Rise Third Quarter, Thailand Warns of Price Pressure
Transport costs in Thailand have risen for the third straight quarter, with the road freight index up 11.1% year-on-year in Q3 2026, driven by higher diesel prices linked to global energy market volatility. The Ministry of Commerce warned the trend could push up product prices by year-end, especially as agricultural and industrial shipping costs climbed sharply. While costs eased slightly from the previous quarter due to temporary oil price stability, officials expect the index to stay elevated through Q4 amid ongoing Middle East tensions and seasonal demand.
Nantaphong Jiraphongphong, director of the Trade Policy and Strategy Office (TPSO) at the Ministry of Commerce, said the overall road freight service index for the third quarter of 2026 continued its upward trend for a third straight quarter compared with the same period in 2025. The main factor was the rise in diesel prices, which followed global energy market conditions. He added that the index is expected to remain high in the next quarter, in line with fuel price trends and growing demand in the transport sector toward year‑end.
The road freight index broken down by production activity showed an 11.1% year‑on‑year increase in Q3 2026. Significant rises were seen in agricultural and fishery products (+13.4%), driven by higher costs for farm goods; mining products (+3.8%), due to higher charges for stone, sand, soil and lignite; and industrial products (+11.0%), mainly from higher charges for transporting computers and electronics, automobiles and parts, food items, and machinery and tools.
When broken down by vehicle type, the index rose 10.1% overall, with pick‑up trucks up 10.9%, trailers up 9.0%, vans up 11.3%, special‑purpose trucks up 7.0%, liquid‑cargo trucks up 7.3%, hazardous‑material trucks up 11.2%, and semi‑trailers carrying long loads up 7.8%.
The increase in the freight index was chiefly attributed to the prolonged conflict in the Middle East, which has constrained global oil supplies and pushed domestic diesel retail prices higher than a year ago, raising operators’ costs. At the same time, steady demand from industry and trade continues to support the need for freight services, forcing operators to adjust rates to match volumes and operating costs.
Although the index edged down slightly from the previous quarter as early‑quarter diesel prices stabilized and some firms streamlined cost structures and routes, officials said they must continue to monitor external energy risks and market volatility closely.
Looking ahead to Q4 2026, the index is projected to stay high or rise further, supported by persistently high world oil prices linked to the unresolved Middle East conflict and the low base effect from the same period last year. Additional upward pressure may come from year‑end consumer and retail spending, as businesses rush to clear inventories before the holiday season, and from weather‑related disruptions to transport routes.
