Bangkok: The Ministry of Energy held a meeting to review refining margins; the Oil Fund is already in a deficit of 42 billion baht. Mr. Prasert Sinsukprasert, Permanent Secretary of the Ministry of Energy, chaired a meeting of the working group investigating fuel refining margins to address public concerns. The Oil Fund is currently in a deficit of 42 billion baht.
According to Thai News Agency, Mr. Prasert stated that after the Minister of Energy appointed a working group to investigate refining margins, the first meeting was held today. The working group comprises the Director of the Energy Policy and Planning Office, representatives from the Department of Energy Business, the Ministry of Commerce, the Ministry of Finance, and the Office of the Council of State. The Director of the Petroleum Policy and Planning Division of the Energy Policy and Planning Office serves as a member and secretary of the working group. Following the conflict in the Middle East, it was found that refining margins had risen above normal levels, affecting price stability and the cost of living for the public.
This working group will expedite the collection and verification of in-depth cost data from government agencies and refinery operators, covering everything from crude oil costs and import expenses to markups, production costs, and refinery profits and losses. This information will be used to assess refining margins in line with market conditions, while ensuring fairness to all stakeholders. The results will then be used to propose guidelines for managing oil refinery operations appropriately during this crisis.
Mr. Veerapat Kiattifuengfu, Deputy Permanent Secretary of the Ministry of Energy, stated at a press conference at the Center for Monitoring and Managing the Conflict in the Middle East (CMA) that the Fuel Fund continues to subsidize diesel at 16.67 baht/liter, B20 at 19.50 baht/liter, and E20 at 2.66 baht/liter. The fund is also maintaining the price of liquefied petroleum gas (LPG), freezing the retail price of a 15-kilogram cylinder at 423 baht until May 31, 2026.
However, due to rising global market costs, subsidies for both gas and oil have also increased. Although the government has reduced oil subsidies somewhat and adjusted some prices, this does not fully reflect the true costs. As a result, the fund is experiencing a daily outflow of 1.3 billion baht. As of March 29, 2026, the fund was in deficit by 42,148 million baht, divided into a deficit of 37,315 million baht in the LPG account and a deficit of 37,315 million baht in the oil account. This deficit is expected to increase due to daily compensation and outflows.
Regarding the recent rumors about rising fuel prices, we urge the public not to believe them. Please check official announcements from fuel retailers or verify information with the Energy Policy and Planning Office (EPPO), which provides details on prices, marketing costs, and the overall fuel price structure.
As of March 27, 2026, the situation regarding diesel and gasoline was as follows: diesel production averaged 82.21 million liters per day, sales averaged 82.99 million liters per day, and exports averaged 4.43 million liters per day, totaling 87.42 million liters per day. Meanwhile, gasoline production averaged 34.40 million liters per day, sales averaged 35.25 million liters per day, and exports averaged 0.84 million liters per day, totaling 36.09 million liters per day.