BANGKOK, THAILAND – Thailand’s fuel price spiral continued at alarming speed as a second sharp increase in 24 hours was announced for early 3 April.
Second record hike within 24 hours
Fuel prices at Thailand’s petrol stations had already risen significantly earlier in the day, and another jump was scheduled for 3 April at 5:00 a.m. The new adjustment meant diesel customers faced what was described as the next shock within a single day.
Standard diesel was set to rise by a further 3.50 baht per liter. Premium diesel was due to increase by 4.00 baht per liter, while gasoline and gasohol products were to climb again by 0.70 baht per liter.
New record pump prices from 3 April
According to the state-controlled energy group PTT, the adjustments would push several products to record levels. Standard diesel was scheduled to reach a record 47.74 baht per liter, while premium diesel would climb to 63.94 baht.
Gasohol 95 was set at 43.95 baht per liter and Gasohol 91 at 43.58 baht. The price of Benzine 95 was to rise to 52.54 baht per liter, underscoring the breadth of the increases across fuel types.
Economy under strain as diesel costs hit agriculture
With diesel approaching 48 baht per liter, the surge put severe pressure not only on Thailand’s logistics sector but also on rice farmers and other agricultural businesses. Tractors, harvesters and many rural pick-up trucks run on diesel, meaning higher costs were felt immediately in farming regions.
The earlier analysis in the morning report stated that the conflict in the Middle East was relentlessly driving global oil prices higher. For Thailand, this was described as triggering a dangerous wave of inflation just ahead of the Songkran festival.
The fact that prices were adjusted sharply twice within two days was presented as evidence of the seriousness of the situation. The government came under heavy pressure, as existing fuel subsidies were apparently no longer sufficient to stabilize the market.
Consumers and farmers were urgently advised to fill their vehicles’ tanks, if possible, before the new increases took effect. The call warned that the next record threshold would be reached once the higher prices were implemented in the early hours of 3 April.