11 July 2024

The price of diesel at gas stations in Thailand is expected to increase, from today’s 30 baht to 35-36 baht per litre from May 1st, when the government cap on the price, to ease the burden on cargo transport services and consumers, is lifted, according to Director of the Energy Policy and Planning Office (EPPO) Wattanapong Kurovat.

Wattanapong warned, however, that the initial price increase of 5-6 baht per litre is just half of the actual cost increase, as the government does not want an immediate 10-12 baht increase at the pump.

He said that Energy Minister Supattanapong Punmeechaow has instructed all agencies concerned to formulate ways to ease the potential impact, adding that the EPPO has been working on how the step-by-step increase should be applied.

The diesel prices per litre in Thailand and in other ASEAN countries, as of April 18th based on the median exchange rate on April 12th, are as follows:

  • Thailand, 29.94 baht
  • Singapore, 70.53 baht
  • Lao PRD, 48.52 baht
  • Cambodia, 44.11 baht
  • The Philippines, 43.40 baht
  • Indonesia, 42.45 baht
  • Myanmar, 36.81 baht
  • Vietnam, 35.91 baht
  • Malaysia, 17.09 baht
  • Brunei, 7.65 baht

Benzene prices in ASEAN member countries are:

  • Thailand, 38.25 baht
  • Singapore, 75.21 baht
  • Lao PRD, 57.73 baht
  • Cambodia, 48.27 baht
  • The Philippines, 43.56 baht
  • Indonesia, 41.05 baht
  • Vietnam, 40.23 baht
  • Myanmar, 35.07 baht
  • Malaysia, 16.30 baht
  • Brunei, 13.08 baht

Wattanapong explained that the variances in the prices of benzene and diesel ASEAN countries are due to differing taxes, subsidies and government support of gasohol.

In Thailand, he said that the government promotes the use of gasohol, by providing subsidies through the Oil Fund, which make the price of gasohol cheaper than benzene.

Diesel fuel is mostly used by trucks and buses. The price increase of the fuel is expected to drive up the prices of various consumer products which will hurt consumers in general,  particularly the low income earners.

Also, the upcoming price increase will make it harder for the government to stop operators of cargo transport from adjusting their transport charges.