Sukhothai Public Relations OfficeThe government may be forced to implement fuel tax reductions if the Oil Fuel Fund proves insufficient to stabilise domestic prices, Deputy Prime Minister Ekniti Nitithanprapas has warned. He compared the current situation with the Russia–Ukraine war, when the government spent about 270 billion baht through a combination of Oil Fuel Fund subsidies and cuts to fuel excise taxes to cap retail prices. Despite market turbulence, authorities have insisted that domestic fuel supplies remain sufficient. The Energy Ministry has maintained that the Oil Fuel Fund is still capable of cushioning price increases, even as global oil prices have surged from around US$90 per barrel (2,930 baht) in recent weeks. Nevertheless, officials acknowledge that domestic retail prices may need to adjust to reflect rising costs.

Source: Bangkok Post March 25, 2026 01:20 UTC