Bangkok: The Royal Gazette has formally published new, stricter regulations for oil retailers, which are now in effect, requiring comprehensive reporting to the Department of Energy Business and the Energy Policy and Planning Office (EPPO) by 12:00 PM every Friday. These measures are part of the Ministry of Energy's efforts to manage oil trading amid the ongoing conflict in the Middle East.
According to Thai News Agency, the recently published measures necessitate oil traders to prominently display the "selling price" and "remaining quantity" of gasoline, gasohol, and diesel at all refineries and oil depots. The displayed information must be clear, with prices shown in baht per liter and quantities in liters, primarily in the Thai language. Additionally, oil traders, including refineries, are mandated to report the cost of crude oil, selling price of refined oil, and refining costs to the relevant authorities weekly.
The regulations also stipulate that oil dealers must immediately report information related to the sale or transfer of gasoline, gasohol, or diesel upon the preparation of a "transportation document." Notably, these regulations are retroactive, requiring data and transport manifests to be reported from February 1, 2026, onwards. The announcement further updates the definition of "fuel oil" in the existing Fuel Oil Trading Act to a "fuel oil price structure," aligning it with the price guidelines provided by the EPPO.
Attention is currently directed towards the Energy Policy Administration Committee's (EPAC) second meeting, where discussions may lead to a further cut in refining margins. Energy Minister Ekanat Promphan has previously indicated progress in managing energy prices, with a proposal to reduce the ex-refinery price of oil by 2 baht per liter. The aim is to publish this proposal in the Royal Gazette for immediate effect on April 24, 2026, with part of the reduction compensating for losses in the Fuel Fund.
Mr. Ekanat highlighted that future trends might see a decrease in refinery prices beyond 2 baht, given the current abnormal state of the oil market due to export bans, which has led to increased domestic consumption. The committee's intervention is geared towards ensuring price fairness, with April's prices showing a tendency to decrease further.
Furthermore, Mr. Ekanat noted that since the Songkran festival, diesel prices at gas stations have reduced four times, totaling over 8.84 baht. This reduction reflects market mechanisms and adjustments to refinery prices to better align with the actual market situation.