Nation Thailand
Thailand braces for higher oil prices as fund deficit tops THB80bn
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Thailand’s Energy Ministry has warned that global oil prices could remain highly volatile and continue rising after renewed fighting between the United States and Iran, while the country’s Oil Fuel Fund is running a deficit of more than 80 billion ba
Key facts
- Brent crude rose from US$88.13 to US$94.65 a barrel, an increase of 7.4%.
- US West Texas Intermediate crude climbed from US$83.38 to US$90.22 a barrel, up 8.2%, while Dubai crude increased from US$82.70 to US$88.75, a rise of 7.32%.
- Veerapat Kiatfuengfoo, deputy permanent secretary and spokesman for the Energy Ministry, said the ministry was closely monitoring the conflict because the latest escalation was directly affecting the stability of global energy markets and
- The government will continue measures intended to ease the impact on households, including a refinery-gate diesel price reduction in effect until September 15, 2026, and the use of the Oil Fuel Fund to help manage domestic prices.
Summary
Veerapat Kiatfuengfoo, deputy permanent secretary and spokesman for the Energy Ministry, said the ministry was closely monitoring the conflict because the latest escalation was directly affecting the stability of global energy markets and pushing crude prices higher.
Brent crude rose from US$88.13 to US$94.65 a barrel, an increase of 7.4%.