Economy
Diesel Prices Rise in Thailand Amid Global Oil Market Volatility
Thailand's Oil Fuel Fund Committee has increased retail diesel prices by 0.85 baht per liter following a surge in global oil costs.
According to a report by Prachachat Business on August 12, 2026, retail diesel prices in Thailand have been increased by 0.85 baht per liter. This adjustment follows a significant rise in global oil prices, with diesel in the Singapore market exceeding 160 USD per barrel. The price hike is attributed to ongoing geopolitical tensions, specifically the failure of negotiations between the United States and Iran to fully reopen the Strait of Hormuz, which has heightened concerns regarding global oil supply stability.
The Thai Oil Fuel Fund Committee (OFFC) is currently subsidizing fuel prices at a rate of approximately 343 million baht per day to mitigate the impact on consumers. For residents and travelers in Thailand, this increase may lead to higher transportation costs and potentially influence the prices of goods and services that rely on logistics. While the price adjustment is effective as of August 12, 2026, the long-term stability of fuel prices remains uncertain. The situation depends heavily on international diplomatic developments and global market fluctuations. Travelers should monitor local news for further updates on fuel pricing and potential impacts on travel expenses.