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Thailand stabilises retail petrol, diesel prices

Minister of Energy and Chairman of the Fuel Fund Management Committee (FFMC) Atthapol Rerkpiboon announced the decision after chairing an FFMC meeting the same day. The meeting was convened to discuss solutions to address the potential impact of the US-Iran crisis on domestic fuel prices.

Bangkok (VNA) – The Thai Ministry of Energy decided on February 23 to implement measures to stabilise retail diesel and petrol prices, thereby minimising the impact on the cost of living amid the risk of escalating tensions between the US and Iran.

Minister of Energy and Chairman of the Fuel Fund Management Committee (FFMC) Atthapol Rerkpiboon announced the decision after chairing an FFMC meeting the same day. The meeting was convened to discuss solutions to address the potential impact of the US-Iran crisis on domestic fuel prices.

The FFMC approved a resolution to increase the fuel fund subsidy for diesel by 0.44 THB per litre (about 0.014 USD per litre), while reducing the surcharge on petrol by 0.30–0.80 THB per litre. As a result, retail prices for diesel and petrol at filling stations will remain unchanged for the time being.

Minister Atthapol also instructed the Fuel Fund Office (FFO) to closely monitor developments in the global energy market, promptly assess potential impacts on domestic retail fuel prices, and propose appropriate measures.

As of February 22, the Fuel Fund recorded a positive balance of 2,385 million THB (76.91 million USD). Of that amount, the petroleum account posted a surplus of 40.374 million THB, while the LPG account recorded a deficit of 37.989 million THB./.

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