Thailand Cuts Fuel Prices After Songkran as Global Market Conditions Improve

Fuel prices across Thailand have started to decline following Songkran, reflecting more favorable conditions on global energy markets. As of April 17, diesel prices dropped below the 43-baht-per-liter threshold, while gasohol and gasoline also saw smaller reductions.

The adjustment followed the first post-Songkran meeting of the Oil Fuel Fund Office (OFFO) on April 16, where officials reviewed subsidy policies and contribution rates. Based on fuel price benchmarks from Singapore, the fund revised its structure to allow for lower retail prices while continuing efforts to reduce its own financial burden.

Starting April 17, diesel prices were cut by 1.5 baht per liter, while gasohol and gasoline decreased by 0.5 baht per liter.

The updated rates are as follows:

• Diesel B7: 44.40 → 42.90 baht

• Gasohol 91: 42.58 → 42.08 baht

• Gasohol 95: 42.96 → 42.45 baht

• Gasohol E20: 35.95 → 35.45 baht

• Gasohol E85: 31.89 → 31.39 baht

In Phuket, retail fuel prices remain slightly higher than in Bangkok, typically by around 0.5 baht per liter.

So far, the government has not announced any plans to return diesel prices to the previously subsidized “social” range that was in place until mid-March. At that time, maintaining lower prices cost the OFFO roughly 1 billion baht per day. Currently, the fund’s daily expenditure has been reduced to about 114 million baht, indicating a shift toward more sustainable financial management.