Urgent Meeting for Oil Price Cut Announcement Today; ENGO-ENGO to Review Pump Prices

Thansettakij•Economy•14d ago

Reader Briefing

Thailand's Energy Minister convenes urgent committee meetings to consider reducing oil prices based on falling crude costs.

•Minister of Energy Ekanat Phromphan has called an urgent meeting of the Energy Policy Administration Committee (ENGO) and the Fuel Fund Management Committee (ENGO) on July 7, 2026.
•The meeting aims to discuss and implement measures to reduce oil prices at the pump.
•The reduction is being considered due to a decrease in oil costs.
•Prime Minister Anutin Charnvirakul has urged prompt action to adjust retail oil prices.

Overview

•Minister of Energy Ekanat Phromphan called an urgent meeting of the Energy Policy Administration Committee (ENGO) and the Fuel Fund Management Committee (ENGO).
•The urgent meetings are scheduled for the evening of July 7, 2026.
•The meetings are to consider measures to reduce oil prices in response to falling costs.
•Prime Minister Anutin Charnvirakul has instructed the acceleration of measures to adjust domestic retail oil prices.
•The ENGO and ENGO committee will expedite consideration of retail oil price reduction measures.
•The goal is for domestic prices to reflect the reduced costs quickly, benefiting the public.
•The adjustment will proceed without necessarily waiting for reference prices of refined oil from the Singapore market if crude oil costs have already decreased.

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Key Quotes

Ekanat Phromphan

"Called an urgent meeting of the Energy Policy Administration Committee (ENGO) and the Fuel Fund Management Committee (ENGO) this evening (July 7, 2026) to consider measures to reduce oil prices in line with reduced costs."

ได้ดำเนินการเรียกประชุม คณะกรรมการบริหารนโยบายพลังงาน (กบง.) และ คณะกรรมการบริหารกองทุนน้ำมันเชื้อเพลิง (กบน.) เป็นการด่วนในช่วงเย็นวันนี้ (7 ก.ค. 69) เพื่อพิจารณาแนวทาง ลดราคาน้ำมัน ให้สอดคล้องกับต้นทุนที่ปรับลดลง

Key Entities

Person

Ekanat Phromphan(เอกนัฏ พร้อมพันธุ์)

Minister of Energy of Thailand.

Anutin Charnvirakul(อนุทิน ชาญวีรกูล)ℹ️

Prime Minister and Minister of Interior of Thailand.

Organization

Energy Policy Administration Committee(คณะกรรมการบริหารนโยบายพลังงาน)

A committee tasked with managing energy policy in Thailand.

ENGO(กบง.)

Abbreviation for the Energy Policy Administration Committee.

Fuel Fund Management Committee(คณะกรรมการบริหารกองทุนน้ำมันเชื้อเพลิง)

A committee responsible for managing the fuel fund in Thailand.

ENGO(กบน.)

Abbreviation for the Fuel Fund Management Committee.

Timeline

July 7, 2026(7 ก.ค. 69)

The date of the urgent committee meetings.