Tensions in the Middle East are driving up global oil prices. ReutersThai energy authorities are preparing to secure loans from commercial banks to shore up the Oil Fuel Fund, which is rapidly running dry as global crude prices surge past US$100 per barrel amid the escalating US-Iran conflict. The fund, designed to shield consumers from volatile fuel costs, is currently spending about 700 million baht daily to subsidise domestic oil prices, particularly diesel. “The loan amount will depend on discussions among the Oil Fuel Fund Office, treasury, and excise tax officials,” he said. Thailand consumes 153-155 million litres of oil daily, including 63-65 million litres of diesel and 31-33 million litres of gasoline and gasohol.

Source: Bangkok Post March 09, 2026 15:05 UTC