In response to the surge in global oil prices, the Thai Oil Fund Management Committee has increased diesel compensation by more than 2 baht, resulting in a price hike of 1.80 baht per litre from 31 March 2026.
On 30 March 2026, the Oil Fund Administration Committee (GOB) decided to raise the diesel compensation from 16.67 baht to 18.76 baht per litre. This measure, adopted in response to the surge in global prices, results in an increase in the retail selling price of 1.80 baht per litre, bringing the rate from 38.94 baht to 40.74 baht per litre (average, prices are higher in islands location). The effect is immediate from 5am on 31 March 2026 5am.
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The main cause of this adjustment lies in the extreme volatility of global oil markets seen in recent days. The price of Gas Oil, equivalent to diesel, jumped to 238 US dollars per barrel on 27 March 2026, compared to a normal level of 92-95 dollars before recent geopolitical tensions linked to the “oil price war”.
In this unstable context, the GOB held an evening meeting around 7pm-8pm to assess global data: international prices, regional prices, fund status and economic impacts on the Thai population. The decision was announced around 8.30pm the same day.
This compensation increase raises the fund's expenditure by 170 million baht per day, from 1,335 million to 1,505 million baht daily. On 29 March 2026, the fund showed a deficit of 42,148 million baht, of which 4,833 million for oil and 37,315 million for LPG.