“Oil Fund Thailand” says global volatility pushes “Thai fuel prices up 30%”, while Vietnam-Laos close 100%

Today (March 30, 2026) 11.00 a.m., At the Monitoring Center for the Situation in the Middle East, Mr. Weerapat Kiatfuengfoo, Deputy Permanent Secretary of the Ministry of Energy, spoke regarding imposed supply pressure on the global energy market. The price of Dubai crude oil as of March 27th is US$120/barrel, a 72% rise from pre-conflict levels, reflecting fears about the country's supply. Meanwhile, the price of refined oil, particularly diesel, has risen past US$200 per barrel, reaching a high of US$240.

In Thailand, the retail price of diesel has increased by 30% to 38.90 baht a liter. Gasohol 95 E20 costs 47.050 baht per liter, a 34% increase. Malaysia, Vietnam, Philippines, Laos, Singapore have all experienced price rises ranging from 90-100%. In terms of price structure management, the Ministry of Energy, through the Oil Fuel Fund Office (OFFO) maintained marketing margins in March at an average of about 2 baht per unit, despite price rises.

Due to the volatility of global oil prices, the Ministry of Energy has imposed stricter controls on oil retailers, requiring them to clearly display daily selling prices and oil stock levels, report this information by 6:00 PM every day, and sell at prices no higher than those set by the Energy Policy and Planning Office.

Furthermore, the Ministry of Energy has encouraged the use of B20 biodiesel by changing the biodiesel ratio from B5 to B7 and offering B20 as an option at a 5 baht per liter price difference to assist lower energy expenses. It is already available in some regions and is set to extend further in early April.When questioned regarding if Thailand has enough gasoline reserves for the Songkran festival, Mr. Weerapat claimed that if there is a fuel crisis, Thailand will have reserves for 106 days. He underlined the need for securing fuel and developing contingency plans for the Songkran event in order to minimize public impact.

Photo : Weeraphat Ratsameerueangrong