The Oil Fuel Fund Management Committee has approved an increase in retail prices for all types of fuel by 0.75 baht per litre, effective from 2 October 2026. The increase stems from intensifying tensions in the Middle East and the lack of clear progress in indirect peace talks between the United States and Iran. On 1 October 2026, diesel prices in the Singapore market jumped above 179 US dollars per barrel, while gasoline surged above 157 US dollars per barrel. As a result, the Oil Fuel Fund has had to bear compensation costs of about 430.14 million baht per day, making it necessary to reduce the burden in order to maintain liquidity for long-term price stability. For the diesel group, ordinary high-speed diesel received an additional subsidy of 0.28 baht per litre, bringing the subsidy to 4.07 baht per litre, with a retail price of 42.19 baht per litre. High-speed diesel B20 received an additional subsidy of 0.15 baht per litre, bringing the subsidy to 8.14 baht per litre, with a retail price of 37.19 baht per litre. Premium diesel is levied at 1.50 baht per litre. For the gasoline and gasohol group, gasoline reduced its levy by 0.79 baht per litre to 1.50 baht per litre, with a retail price of 49.68 baht per litre. Gasohol 95 and 91 received an additional subsidy of 0.69 baht per litre, bringing the subsidy to 5.04 baht per litre, with retail prices of 40.69 baht per litre and 40.32 baht per litre respectively. Gasohol E20 received an additional subsidy of 0.59 baht per litre, bringing the subsidy to 8.03 baht per litre, with a retail price of 35.69 baht per litre, and gasohol E85 received an additional subsidy of 0.01 baht per litre, bringing the subsidy to 2.58 baht per litre, with a retail price of 31.63 baht per litre. The Oil Fuel Fund asks the public to use fuel economically and only as necessary, in order to reduce expenses and strengthen the fund.
Middle East tensions and stalled US-Iran talks lift Singapore diesel/gasoline benchmarks, supporting heating oil prices.
