Economy
Thailand Monitors Global Diesel Price Volatility Amid Supply Concerns
The Thai Ministry of Energy assures sufficient domestic diesel reserves despite global price surges driven by potential U.S. export bans and extended Russian restrictions.
According to Khaosod Online, the Thai Ministry of Energy is closely monitoring significant volatility in global diesel prices. Veerapat Kiatfuengfoo, spokesperson for the Ministry, confirmed that Thailand maintains adequate domestic diesel reserves to meet the needs of both the public and the business sector.
The current global price instability is largely attributed to policy shifts in major producing nations. Reports indicate that the United States may consider banning diesel exports to stabilize domestic costs, following a 75% price increase compared to the previous year, reaching approximately $6.50 per gallon. Simultaneously, Russia is expected to extend its diesel export ban until October 31, 2026, as several refineries remain offline following attacks. Russia, which exported 813,000 barrels per day in 2025, has maintained this ban since July 8, 2026.
For residents and travelers in Thailand, these global factors may influence local fuel costs. The Ministry of Energy is currently utilizing the Oil Fuel Fund to help manage and stabilize domestic prices. While officials emphasize that there is no risk of a fuel shortage, the situation remains fluid. It remains to be confirmed how long the Oil Fuel Fund can effectively buffer these international price pressures and whether the U.S. will formally implement its proposed export restrictions.