Economy
Thailand Increases Fuel Prices by 0.85 Baht per Liter Starting September 15, 2026
The Oil Fuel Fund Office (OFFO) has announced a nationwide fuel price hike due to global supply constraints and geopolitical tensions in the Middle East.
On September 14, 2026, the Oil Fuel Fund Office (OFFO) of Thailand officially approved a retail price increase of 0.85 baht per liter for all fuel types, effective September 15, 2026. According to Khaosod Online, this decision follows significant pressure on the Oil Fuel Fund, which has been subsidizing fuel costs at a rate of approximately 770 million baht per day.
The price adjustment is attributed to ongoing geopolitical instability in the Middle East, including attacks on oil tankers and stalled international negotiations. These factors have led to a global supply shortage, with millions of barrels of crude oil removed from daily production. Furthermore, refinery bottlenecks have driven refining margins to record highs, pushing diesel prices in the Singapore market above 195 USD per barrel and gasoline to approximately 147 USD per barrel as of September 14.
For residents and travelers in Thailand, this change means higher transportation and logistics costs, which may influence the price of goods and services. Following the adjustment, the retail price for standard high-speed diesel is set at 40.69 baht per liter, with the OFFO increasing its subsidy to 9.83 baht per liter to mitigate further spikes. While this measure aims to stabilize the fund's long-term liquidity, the duration of these elevated prices remains subject to global market fluctuations and the evolution of the Middle Eastern crisis.
