BANGKOK — Fuel supplies will remain adequate throughout the Songkran holiday period, while retail oil prices were set to fall from Saturday after the Oil Fuel Fund Executive Committee approved cuts to levy rates, Energy Minister Akanat Promphan announced.

Refining Margins to Be Lowered, Diesel Set to Drop by 2.14 Baht

Speaking on Saturday, Akanat said the recent softening in global oil and refined product prices had allowed authorities to adjust domestic retail prices downward, providing some relief for millions of Thais travelling to celebrate the traditional New Year with their families. He reassured the public that fuel supplies would be sufficient during the busy holiday travel period, adding that the ministry would closely monitor stock levels and international market volatility.

Thailand is cutting fuel prices just in time for Songkran, with diesel and gasohol set to fall by as much as 6 baht a litre from April 11.

The biggest cut goes to B20 diesel, while other diesel and gasohol grades will also become cheaper as holiday travel demand starts to surge.…

— Thenationthailand (@Thenationth) April 10, 2026

The minister noted that the financial position of the Oil Fuel Fund has improved significantly. At the peak of the global energy crisis, the fund recorded losses of up to 2.5 billion baht per day. Those losses have since narrowed to around 400 to 500 million baht daily, a level he described as manageable. However, the fund still carries a substantial deficit of nearly 60 billion baht. Further price adjustments will depend on global market developments, particularly ongoing uncertainty surrounding tensions in the Middle East.

Thai Government Confirms Sufficient Fuel Supplies During Songkran Holiday

Crude prices have softened recently, while refined product prices, especially diesel in the Singapore market, have fallen from approximately $300 per barrel to roughly $200 over the past four to five days, suggesting room for further domestic reductions. During the Songkran holiday period, the ministry has said it will prioritise securing sufficient supply and building reserves, while closely tracking global price movements to determine whether additional adjustments are warranted in the days ahead.

-Thailand News (TN)