“Supachote” Slams Government's Energy Failure as Diesel Soars to 43.50 Baht, Oil Fund Deficit Passes 100 Billion! Proposes 3 Short-Term Tools to Cut Pump Price Immediately by 7 Baht

Today (26 October 2026) at 9:30 AM at Parliament, Mr. Supachote Chaiyasat, list MP of the People's Party, spoke following the Shadow Cabinet meeting regarding the current high oil price problem, stating that oil prices in global and domestic markets have continuously risen, reaching levels close to the peak during the onset of the world war in April. In particular, the retail price of diesel at pump stations has surged to 43.50 baht per liter, an increase of over 5 baht per liter in less than two months, directly impacting the cost of living for citizens as well as the country's economic costs and private sector business expenses.

Mr. Supachote continued that the most alarming aspect is that Thailand has virtually no remaining tools to combat this crisis. Looking at the tool consistently used by the government, namely the Oil Fuel Fund, the latest figures show a deficit exceeding 100 billion baht, reflecting the failed management of the government under Prime Minister and Minister of Interior Anutin Charnvirakul.

Mr. Supachote added that the People's Party previously proposed solutions requiring the government to address energy structure issues at their root. At that time, the government clearly acknowledged the proposal and made public promises regarding areas it would tackle. However, even as 7 months have passed, the actions announced by the government—whether reforming the oil pricing structure or implementing measures to regulate those gaining excess profits from the crisis—have failed to materialize or have suffered continuous delays.

Mr. Supachote stated that the People's Party is calling on the government once again by proposing 3 urgent short-term tools to immediately reduce oil prices for citizens: 1. Temporarily reduce the diesel excise tax by 6 baht per liter, which is estimated to require a budget allocation of approximately 12 billion baht per month to compensate for foregone revenue; 2. Negotiate a reduction in marketing margins by 1 baht per liter, as current marketing margins have risen significantly beyond previous study assessments. If the government implements both measures together, retail pump prices can drop by 7 baht per liter immediately.

Mr. Supachote continued that the 3rd measure requires the government to expedite reforming the oil price structure, which currently benchmarks against Singapore prices that contain various hidden costs unfair to the public. Criteria must be reviewed to ensure fairness, cutting out unnecessary costs and eliminating hidden expenses.

Regarding long-term solutions, Mr. Supachote added that the government must focus on reducing the country's fiscal burden by collecting a windfall tax. Although the government may have capped prices at refinery gates, financial results show several refineries generating significantly higher profits. Therefore, the government must update the public on the progress of studies regarding windfall tax collection.

Mr. Supachote concluded that the opposition is ready to present concrete solutions, having completed the drafting of the Windfall Tax Bill, which is prepared for public disclosure and submission to the House of Representatives as soon as possible. This legislation aims to prevent anyone from profiting off the public's fuel burden. He therefore calls on the government to consider and implement these 3 short-term tools alongside the 1 long-term measure without delay.

Photo : Weeraphat Ratsameerueangrong