With the government ending fuel price caps, sending pump prices up by 6 baht per litre nationwide, Mr Nattapon said Thailand is "unlikely to face a credit downgrade". STAGFLATION RISKPoonyawat Sreesing, senior economist at SCB Economic Intelligence Center (EIC), agreed that allowing domestic prices to move in line with actual market prices could lessen the risk of a Thai credit downgrade. "However, risks remain if jumping oil prices significantly lower the country's GDP growth because that is also a factor for a credit downgrade," he told the Bangkok Post. Manufacturers understand global crude oil prices have surged, driving retail fuel costs upwards, said Apichit Prasoprat, vice-chairman of the FTI. Some companies may even be forced to temporarily suspend operations due to soaring fuel costs and shortages of certain raw materials, said Mr Apichit.

Source: Bangkok Post March 26, 2026 18:04 UTC