Oil Price Cut: 0.85 Baht/Liter Effective May 8

Matichon•Economy•18d ago

Reader Briefing

Thailand's Oil Fund Board has decided to reduce retail oil prices by 0.85 baht per liter, citing global market trends and aiming to ease consumer burdens and improve fund liquidity.

•The Oil Fund Board (กบน.) has approved a reduction in retail oil prices across all types by 0.85 baht per liter.
•This price adjustment is effective from May 8, 2026.
•The decision is influenced by declining global oil prices and aims to benefit consumers and enhance the fund's financial health.

Overview

•The Oil Fund Board (กบน.) resolved to reduce the retail price of all fuel types by 0.85 baht per liter.
•The price reduction in oil types has been effective since May 8, 2026.
•The adjustment reflects a downward trend in global market prices, easing investor concerns over US-Iran conflict and the reopening of Hormuz Strait shipping routes.
•On May 7, 2026, global crude oil prices closed at approximately 149 USD per barrel for diesel and 128 USD per barrel for gasoline.
•This is a reduction from April 30, 2026, when prices closed at approximately 179 USD per barrel for diesel and 138 USD per barrel for gasoline.
•The Oil Fund Board adjusted collection rates for various fuel types, including diesel, gasoline, and gasohol variants.
•The price reduction aims to lower living costs for the public.
•The measure is also intended to help the Oil Fund Board manage its fuel fund to increase liquidity, with an estimated daily revenue of approximately 75.65 million baht.

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Key Entities

Organization

Oil Fund Board(คณะกรรมการบริหารกองทุนน้ำมันเชื้อเพลิง)

The committee that resolved to reduce oil prices in Thailand.

OFB(กบน.)

Abbreviation for the Oil Fund Board.

Person

Sorayuth Suthassanachinda(สรยุทธ สุทัศนะจินดา)

The news reporter who delivered the information regarding the Oil Fund Board's decision.