Bangkok: In a significant move to alleviate the financial burden on consumers, all gas stations across the country will reduce the price of diesel fuel by 2.14 baht per liter starting tomorrow. The Minister of Energy has authorized this reduction following a restructuring of the refinery price structure and a decrease in the diesel subsidy rate.
According to Thai News Agency, the decision to cut the retail price of diesel comes as a result of recent developments in global oil prices, which have allowed for adjustments in the subsidy rate. The Energy Policy Administration Committee (EPAC), led by Mr. Ekanat Promphan, Minister of Energy and Chairman of the Fuel Fund Management Committee (FFMC), has approved a 2 baht per liter reduction in the ex-refinery price of B7 and B20 diesel types. This marks an unprecedented move, utilizing a new Singapore market reference price formula. Consequently, the retail price at gas stations will now be 48.40 baht per liter for B7 diesel and 43.40 baht per liter for B20 diesel, effective from April 9, 2026.
Further developments have been made with the Oil and Gas Management Committee (OGM) approving a reduction in the diesel fuel subsidy rate. This follows a continuous decline in global oil prices, from approximately US$293 per barrel on April 2nd to US$255 per barrel on April 7th. The subsidy for B7 diesel sees a reduction of 3.54 baht per liter, while B20 diesel subsidy is reduced by 3.06 baht per liter. These adjustments have led to a significant decrease in daily expenses for the Oil and Gas Fund by 288.44 million baht. As of April 8th, 2026, the fund remains in deficit, totaling over 57,762 million baht, divided between deficits in the oil and LPG accounts.
Mr. Ekanat emphasized the importance of cooperation in overcoming crises, expressing gratitude to the Thai people and refinery groups for their understanding and support. This cooperative effort is seen as a vital measure to mitigate the impact on the cost of living and sustain the Thai economy amidst global uncertainties.