Oil Prices Cut 0.85 Baht/Liter Due to Global Market Downtrend, Effective May 8, 2026

Prachachat•Economy•18d ago

Reader Briefing

Thailand's Oil Fund Committee has announced a significant reduction in fuel prices by 0.85 baht per liter for all fuel types, effective May 8, 2026, driven by a declining global market and aiming to ease public living costs.

•The Oil Fund Committee (กบน.) has approved a price cut of 0.85 baht per liter for all fuel types.
•The reduction is a direct response to a downward trend observed in the global oil market.
•The new prices will take effect starting May 8, 2026.
•This measure is intended to alleviate the cost of living for the general public and improve the financial liquidity of the Oil Fund.

Overview

•On May 7, 2026, the Oil Fund Committee (กบน.) held a meeting to consider fuel price adjustments.
•The Oil Fund Committee (กบน.) approved a reduction in the retail price of all fuel types by 0.85 baht per liter.
•The price reduction was implemented to reflect the weakening trend in the global oil market.
•The adjusted prices aim to reduce the cost of living for the general public in Thailand.
•The price of diesel in the global market on May 7, 2026, closed at approximately 149 USD per barrel.
•The price of gasoline in the global market on May 7, 2026, closed at approximately 128 USD per barrel.
•The downward trend in global oil prices is attributed to reduced investor concerns over the US-Iran conflict following reports of a temporary ceasefire and the reopening of the Strait of Hormuz shipping lanes.
•The new oil fund rates will be effective from May 8, 2026.

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Key Entities

Organization

Oil Fund Committee(กบน.)

The Thai organization responsible for managing the oil fund and making decisions on fuel prices.

Place

United States(สหรัฐฯ)ℹ️

A nation involved in a conflict scenario contributing to global oil market fluctuations.

Iran(อิหร่าน)ℹ️

A nation involved in a conflict scenario contributing to global oil market fluctuations.

Strait of Hormuz(ช่องแคบฮอร์มุช)ℹ️

A strategic waterway whose potential reopening influences global oil prices.

Law

Diesel(น้ำมันดีเซล)ℹ️

A type of fuel whose price is being adjusted by the Oil Fund Committee.

Gasoline(น้ำมันเบนซิน)ℹ️

A type of fuel whose price is being adjusted by the Oil Fund Committee.

Regular High-Speed Diesel(น้ำมันดีเซลหมุนเร็วธรรมดา)

A specific type of diesel fuel subject to pricing adjustments.

B20 High-Speed Diesel(น้ำมันดีเซลหมุนเร็ว บี20)

A specific type of diesel fuel with a biofuel blend, subject to pricing adjustments.

Premium Diesel(น้ำมันดีเซลพรีเมี่ยม)

A specific type of premium diesel fuel subject to pricing adjustments.

Gasohol 95(น้ำมันแก๊สโซฮอล 95)

A specific type of gasoline-ethanol blend fuel subject to pricing adjustments.

Gasohol 91(น้ำมันแก๊สโซฮอล 91)

A specific type of gasoline-ethanol blend fuel subject to pricing adjustments.

Gasohol E20(น้ำมันแก๊สโซฮอล E20)

A specific type of gasoline-ethanol blend fuel with 20% ethanol, subject to pricing adjustments.

Gasohol E85(น้ำมันแก๊สโซฮอล E85)

A specific type of gasoline-ethanol blend fuel with 85% ethanol, subject to pricing adjustments.

Person

Pornchai Jirakul Paisan(นายพรชัย จิรกุลไพศาล)

Media contact person for the Oil Fund Committee.