The Thai government will start gradually increasing retail fuel prices from Wednesday, with heavy subsidies on standard diesel to alleviate the impact on consumers. This change in approach aims to manage fuel costs amid strains on the Oil Fuel Fund. The government plans to supply B20 diesel at a discounted rate to support key economic sectors. Despite the fund’s deficit of approximately 12 billion baht, the caretaker government is committed to capping losses at 40 billion baht. Thailand reassures the public of adequate fuel reserves for 96 days and readiness to purchase crude oil from Russia if needed.
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