Thailand is facing what officials describe as its most severe energy crisis on record, as global diesel prices (Singapore FOB) surge to nearly 300 US dollars per barrel, triple the standard rate of 92 dollars. The sharp rise is placing extreme pressure on the state Fuel Fund, which is now running a deficit of nearly 50 billion baht and risks collapse within two months. Authorities warn that without urgent intervention, the subsidy mechanism supporting fuel prices could fail.

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The Energy Ministry confirmed on 3 April 2026 that the current price volatility far exceeds previous peaks, including the Russia-Ukraine conflict when diesel reached 150 dollars per barrel. The Fuel Fund, which has a credit line of 150 billion baht, is being rapidly depleted as the government attempts to cushion domestic consumers from global price shocks. Officials say the pace of spending means available funds may last only a short period.

In response, the government is negotiating with oil refineries to reclaim what it describes as “windfall profits” generated by elevated refining margins and a so-called war premium. A benchmark refining margin of 2.43 baht, based on a five-year average, is being used to determine excess earnings that could be redirected to support the public. Major refiners including PTT and Bangchak have indicated preliminary cooperation, with a final decision on measures expected on Monday, 6 April.

Authorities have also introduced fuel price increases over the past days to prevent hoarding and cross-border smuggling. Officials say gradual adjustments are necessary to avoid sudden price shocks that could destabilise supply and demand. At the same time, the government continues to subsidise liquefied petroleum gas at a cost of 30 million baht per day to help control food prices and ease pressure on household expenses.

The Nation reported that Prasert Sinsukprasert, permanent secretary for Energy, described the situation as “a moment of unprecedented gravity” and said efforts are focused on balancing public protection with market stability. The government is considering whether to apply general price reductions or target support at the transport sector and vulnerable households.

Picture courtesy of The Nation

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Adapted by ASEAN Now Nation 4 Apr 2026

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And Thailand lost 57million ltr oil somewhere, vanished.. maybe find that quickly, than there is no reason to panic.

Yet another government fund on the brink of collapse? Where has all the money gone? Lost, misplaced, vanished?

In the OP, it quoted $300 for Diesel as opposed to the $96 for crude.

Is this not comparing two completely different things?

7 minutes ago, wil iam not said:

In the OP, it quoted $300 for Diesel as opposed to the $96 for crude.

Is this not comparing two completely different things?

It is talking about the diesel barrel price, which is based on the Singapore FOB, the benchmark used in Thailand.

This article explains more.

https://www.nationthailand.com/news/general/40064425

global diesel prices (Singapore FOB) surge to nearly 300 US dollars per barrel

That is weird , in europe it is 200 $ .

https://blockonomi.com/european-diesel-prices-explode-to-200-per-barrel-supply-crisis-deepens/

Seems Singapore is adding its own tax ?

3 hours ago, ikke1959 said:

And Thailand lost 57million ltr oil somewhere, vanished.. maybe find that quickly, than there is no reason to panic.

One word CORRUPTION

1 minute ago, FlorC said:

global diesel prices (Singapore FOB) surge to nearly 300 US dollars per barrel

That is weird , in europe it is 200 $ .

https://blockonomi.com/european-diesel-prices-explode-to-200-per-barrel-supply-crisis-deepens/

Seems Singapore is adding its own tax ?

I have seen the new Prime Minister of Singpore being interviewed a few tmes and to me he seems to be a bit dodgy and shifty to me so who knows what he's up to. I hope he doesn't ruin Singapore because it is a lovely country.

11 minutes ago, FlorC said:

global diesel prices (Singapore FOB) surge to nearly 300 US dollars per barrel

That is weird , in europe it is 200 $ .

https://blockonomi.com/european-diesel-prices-explode-to-200-per-barrel-supply-crisis-deepens/

Seems Singapore is adding its own tax ?

"Oils ain't oils, Sol"

20 minutes ago, FlorC said:

global diesel prices (Singapore FOB) surge to nearly 300 US dollars per barrel

That is weird , in europe it is 200 $ .

https://blockonomi.com/european-diesel-prices-explode-to-200-per-barrel-supply-crisis-deepens/

Seems Singapore is adding its own tax ?

This the Thai way. It ate Singapore Dollars. Ny giving half information they like to make peoplr afraid. And fear and divide and you can rule

14 minutes ago, ikke1959 said:

This the Thai way. It ate Singapore Dollars. Ny giving half information they like to make peoplr afraid. And fear and divide and you can rule

300 Singapore $ would be right but the article says : 300 US dollars per barrel.

The government does not need to worry people driving SUVs and vehicles will pay for the diesel especially over the Songkran holiday will traffic congestion as normal

The people who need the diesel cheaper are the farmers who should be given priority on cheaper fuel as will keep food costs down

26 minutes ago, FlorC said:

300 Singapore $ would be right but the article says : 300 US dollars per barrel.

As I said Thai style hehehehehe

23 minutes ago, shackleton said:

The government does not need to worry people driving SUVs and vehicles will pay for the diesel especially over the Songkran holiday will traffic congestion as normal

The people who need the diesel cheaper are the farmers who should be given priority on cheaper fuel as will keep food costs down

No the farmers can get some advantage, but only if they fill in their tax papers and many are not doing it... Help the good ones, and those who only want let them.... no pain no gain...but it seems that everybody want the advantages, but when they have to do something back or maybe pay, nobody is interested

25 minutes ago, shackleton said:

The government does not need to worry people driving SUVs and vehicles will pay for the diesel especially over the Songkran holiday will traffic congestion as normal

The people who need the diesel cheaper are the farmers who should be given priority on cheaper fuel as will keep food costs down

This happens in a few countries but needs fuel segregation and bodies to police. Otherwise all pickups will be driving around on subsidized diesel.

I believe small farmers with walk behind "tractors" use "light" diesel which is mostly sold in village dispensers so not pickup fuel.

Hoarding and stockpiling. Not as big of shortages as they make it except by stockpiling.

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It looks like the pickup is gonna be mostly parked up, and the motosai will be getting a lot more use. Well, as long as there is rice in the fields, and fish in the water, we won't starve. May have to cut back on the imported goods. Lot worse in the UK, I guess. At 71, i don't care that much. Spend most of my time in the garden, with the dogs and a cooling breeze. Do worry about the exchange rate, but as long as it hovers around 40bt to the pound sterling, I can survive pretty comfortably. Have a stock of alcohol and cigarettes, so if health problems raise their head, which they no doubt will, given my age, the idea is to drink myself into oblivion. Three score years and ten is enough. Everything, from here on in, is a bonus.

We need to call this the TTT. The Terrible Trump Tax. Through his reckless war of choice and his lack of planning, and his inability to reopen the Strait, as promised, he's driving up prices all over the world and causing considerable pain to billions of people. He doesn't care as money means nothing to him, and he has no sympathy or compassion for us commoners, but we sure care.

I wonder how his devotees feel about paying 40% more for gasoline right now?

2 minutes ago, spidermike007 said:

We need to call this the TTT. The Terrible Trump Tax. Through his reckless war of choice and his lack of planning, and his inability to reopen the Strait, as promised, he's driving up prices all over the world and causing considerable pain to billions of people. He doesn't care as money means nothing to him, and he has no sympathy or compassion for us commoners, but we sure care.

I wonder how his devotees feel about paying 40% more for gasoline right now?

Stockpilers are making a fortune

3 hours ago, JimHuaHin said:

Yet another government fund on the brink of collapse? Where has all the money gone? Lost, misplaced, vanished?

“Where has all the money gone?”

I don’t think it’s as bad as it seems, Thailand isn’t actually that wealthy, with all those small business owners who pay no tax at all, a VAT rate of no more than 7%, and the tourism industry, which isn’t what it used to be.

3 hours ago, JimHuaHin said:

Yet another government fund on the brink of collapse? Where has all the money gone? Lost, misplaced, vanished?

3 hours ago, JimHuaHin said:

Yet another government fund on the brink of collapse? Where has all the money gone? Lost, misplaced, vanished?

3 hours ago, JimHuaHin said:

Yet another government fund on the brink of collapse? Where has all the money gone? Lost, misplaced, vanished?

The Government subsidies Diesel when you look at how the price has increased in recent weeks it’s no wonder the Fund is depleted,

2 hours ago, spidermike007 said:

We need to call this the TTT. The Terrible Trump Tax. Through his reckless war of choice and his lack of planning, and his inability to reopen the Strait, as promised, he's driving up prices all over the world and causing considerable pain to billions of people. He doesn't care as money means nothing to him, and he has no sympathy or compassion for us commoners, but we sure care.

I wonder how his devotees feel about paying 40% more for gasoline right now?

don't bother us a bit .. it's a short bump in the road ....

5 hours ago, JimHuaHin said:

Yet another government fund on the brink of collapse? Where has all the money gone? Lost, misplaced, vanished?

Presumably spent on subsidies to keep fuel prices below market levels?

2 hours ago, spidermike007 said:

We need to call this the TTT. The Terrible Trump Tax. Through his reckless war of choice and his lack of planning, and his inability to reopen the Strait, as promised, he's driving up prices all over the world and causing considerable pain to billions of people. He doesn't care as money means nothing to him, and he has no sympathy or compassion for us commoners, but we sure care.

I wonder how his devotees feel about paying 40% more for gasoline right now?

Not to be picky, but wouldn’t that be TTTT? The issue is whether the T from The, should be included in the title or not.

It’s keeping me awake at nights.

2 hours ago, spidermike007 said:

We need to call this the TTT. The Terrible Trump Tax. Through his reckless war of choice and his lack of planning, and his inability to reopen the Strait, as promised, he's driving up prices all over the world and causing considerable pain to billions of people. He doesn't care as money means nothing to him, and he has no sympathy or compassion for us commoners, but we sure care.

I wonder how his devotees feel about paying 40% more for gasoline right now?

What tax are your dribbling on about ?

Looks like some politicians might have their pockets overfull

1 minute ago, Ralf001 said:

What tax are your dribbling on about ?

The 40% increase on the price of gasoline that the world is facing right now must be called the Trump tax. It was unnecessary it was the wrong time for this war and he shoulders all the responsibility for the economic devastation that he's causing around the world. That raise in the price of oil and gas is having a dramatic trickle-down effect on thousands of goods, commodities and services. Make light of it all you want but this is a really big deal and this will cost Don the midterms.

If you're a supporter and you are financially secure it's very easy to ignore this and just say well it's a few hundred baht more to fill up my tank, that's no big deal, it's kind of worth it in the long run.

But if you're a farmer who's just getting by the hardship imposed by this idiot is unfathomable. And if you're one of a couple of billion people who are living close to the poverty level the quality of your life has diminished due to the irrational moves of this circus clown and his troup.

28 minutes ago, spidermike007 said:

The 40% increase on the price of gasoline that the world is facing right now must be called the Trump tax.

The increase in Thailand is a reduction of the government fuel subsidy.... NOT a tax increase.

19 minutes ago, Ralf001 said:

The increase in Thailand is a reduction of the government fuel subsidy.... NOT a tax increase.

I was speaking as a metaphor, the increase must be considered a Trump tax since he is the one behind all this incredible devastation, and he is the one who has inflicted this economic terror upon the world, by conducting an unnecessary war of choice. Not to mention all the chaos and inflation his stupid tariffs caused. It's okay to admit that the man is a blazing idiot.