(Photo: Prasit Tangprasert)The Thai government has confirmed there are adequate supplies of oil for local consumption but warns local prices will still rise at some point in line with global prices, even with the use of subsidies to offset the increase. The caretaker prime minister admitted that the Mideast conflict would affect oil prices, but promised that his government would try its best to maintain the retail prices of oil, gas and other necessary products. Caltex raised diesel prices by 1.80 baht and most gasohol prices by 0.90 baht per litre. Veerapat Kiatfuengfoo, deputy permanent secretary for energy, said the Ministry of Energy would use the Oil Fuel Fund to subsidise any rise in oil prices. However, local pump prices would still increase at some point, in line with global oil prices, he said.

Source: Bangkok Post March 03, 2026 16:14 UTC