Oil Prices Cut 0.85 Baht/Litre Amid Global Market Downturn, Effective May 8, 2026

Thairath•Society•18d ago

Reader Briefing

Thailand's Oil Fund Committee has decided to reduce retail prices for all fuel types by 0.85 Baht per liter, with the change taking effect on May 8, 2026, due to a weakening global oil market.

•The Oil Fund Committee (กบน.) decided to cut retail fuel prices by 0.85 Baht per liter.
•The price reduction is effective from May 8, 2026.
•The decision was made in response to a downward trend in global oil prices.
•This adjustment aims to reduce the cost of living for the public and improve the Oil Fund's liquidity.

Overview

•On May 7, 2026, the Oil Fund Committee (กบน.) made a resolution to adjust retail prices.
•The Oil Fund Committee (กบน.) resolved to reduce the retail price of all fuel types by 0.85 Baht per liter.
•The price cut is due to weakening global oil prices, stemming from reduced investor concerns over US-Iran conflict.
•The price reduction is effective starting May 8, 2026.
•The committee resolved to increase the collection for ordinary diesel by 0.63 Baht per liter, resulting in a retail price of 39.95 Baht per liter.
•Diesel B20 will have its subsidy reduced by 0.44 Baht per liter, resulting in a retail price of 32.95 Baht per liter.
•Gasoline prices were adjusted, with unleaded gasoline collection increasing by 0.53 Baht per liter, leading to a retail price of 52.04 Baht per liter.
•The price adjustments aim to reduce the cost of living for the public and increase the liquidity of the Oil Fund.

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Key Entities

Organization

Oil Fund Committee(คณะกรรมการบริหารกองทุนน้ำมันเชื้อเพลิง)

The governing body responsible for managing Thailand's oil fund and setting fuel prices.

OFM(กบน.)

The abbreviation for the Oil Fund Committee, responsible for managing Thailand's oil fund.