Energy minister will not side with 'oil hoarders'A sign advises motorists that the pump has run out of diesel and that a delivery is on the way. He said the nation's Oil Fuel Fund, now carrying a deficit of 60 billion baht, requires reform to limit its role and ensure sustainability. As chairman of the government's energy policy panel, he said he has reviewed all aspects, including war risk, insurance and transport costs, to negotiate with refineries to lower refining margins. The minister also said the government's plan to cut excise tax remained a last resort due to its impact on state revenue. He also questioned why the excise tax has not been cut, noting the government continued to collect revenue while asking the Oil Fuel Fund to absorb price fluctuations.

Source: Bangkok Post April 12, 2026 02:00 UTC