Bangkok: Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, has directed the Ministry of Energy to expedite the revision of refining and marketing margins in a bid to lower fuel prices at gas stations ahead of the Songkran festival. The Cabinet's Energy Policy Committee (EPPC) has tasked the Ministry with recalculating the energy pricing structure and submitting a finalized plan by April 6th for approval at the first Cabinet meeting.
According to Thai News Agency, the Committee on Studying the Appropriateness of Fuel Price Costs (CCTR), chaired by Ekniti, has highlighted the need to eliminate irrelevant costs and verify the authenticity of the "war premium." The aim is to alleviate the public's cost of living before the upcoming festival. Ekniti revealed that the meeting found the current refining margin figures might be inflated, prompting the Ministry to revise them by excluding expenses like transportation and insurance costs that are not actually incurred.
Additionally, the Comptroller General's Office (CGO) stressed the importance of addressing the "war premium," a risk cost from Middle Eastern conflicts. Although Thai refineries diversify their oil sources, the Ministry of Energy has been asked to reassess the realistic "war premium" to ensure accurate refining margin calculations.
In terms of marketing margins, which fluctuate, the Ministry has been tasked with determining an appropriate margin. The committee believes that refining and marketing margins will ultimately lower consumer fuel prices. Despite the Prime Minister's 15-day deadline, the committee aims to expedite the process by April 6th to present findings promptly, hoping to positively impact retail prices and ease the public's burden during Songkran.
The committee plans to reconvene on April 3rd to review progress and data from the Ministry of Energy. Prasert Sinsukprasert, Permanent Secretary of the Ministry of Energy, reported that from January 1st to April 2nd, 2026, the marketing margin for oil sales was around 1.95 baht per liter, below the appropriate level of 2.45 baht per liter identified last year. The Ministry is recalculating the suitable marketing margin to mitigate consumer impact.
Regarding refining margins, earlier projections were just over 2 baht per liter, but have now surged to 7 baht, reaching 13-14 baht per liter due to increased shipping and insurance costs. The meeting suggested implementing a ceiling and floor mechanism to regulate margins and stabilize prices.