(April 10): Thailand expects oil prices to remain elevated for up to two years due to the Middle East conflict, its finance minister said, signalling prolonged pressure on a net energy importer already grappling with rising costs and slowing growth. “Low oil prices are a thing of the past, at least for the next one to two years,” he said. The government plans to accelerate adoption of solar power, biofuels and other renewables to cushion households and businesses from higher energy costs, he added. The state oil fund is spending about 1.24 billion baht (US$38.5 million or RM150 million) a day, pushing its deficit to more than 57.7 billion baht, according to officials. Prime Minister Anutin Charnvirakul has also pledged broader relief, including restructuring energy prices, redirecting government spending, and rolling out cash handouts and concessional loans.

Source: The Edge Markets April 10, 2026 04:36 UTC