Bangkok: The Ministry of Energy has reported that the Oil Fund is currently experiencing a deficit of 42 billion baht. In light of this situation, the ministry recently convened a meeting to review refining margins and counter rumors of an impending fuel price increase.
According to Thai News Agency, Mr. Prasert Sinsukprasert, Permanent Secretary of the Ministry of Energy, chaired a meeting of a working group tasked with investigating the refining margins and addressing public concerns. The meeting included representatives from various government bodies, including the Energy Policy and Planning Bureau, the Department of Energy Business, and others. The purpose was to assess the rising refining margins caused by the Middle East conflict, which have impacted price stability and the cost of living. The group aims to collect detailed cost data from government agencies and refinery operators to evaluate refining margins fairly and present guidelines to manage oil refinery operations during this crisis.
Mr. Veerapat Kiattifuengfu, Deputy Permanent Secretary of the Ministry of Energy, emphasized during 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, B20, and E20 fuels, as well as manage the price of liquefied petroleum gas (LPG). Despite adjustments, subsidies have increased due to rising global costs, leading to a daily outflow of 1.3 billion baht from the fund.
As of March 29, 2026, the Oil Fund's deficit includes 37,315 million baht in both the LPG and oil accounts. With continuing daily subsidies and outflows, the deficit is expected to grow. The ministry has advised the public to verify information on oil prices directly with retailers or the Energy Policy and Planning Office (EPPO) to avoid misinformation.
As of March 27, 2026, diesel production averaged 82.21 million liters per day, with sales at 82.99 million liters per day and exports at 4.43 million liters per day, totaling 87.42 million liters per day. Gasoline production averaged 34.40 million liters per day, with sales at 35.25 million liters per day and exports at 0.84 million liters per day, totaling 36.09 million liters per day.