CHIANG RAI – Thailand’s temporary diesel price cap ends Monday, March 16, 2026. As a result, drivers and businesses may soon pay more at the pump. Global oil prices remain high, and Middle East tensions continue to push costs up.
For now, the government has used the Oil Fuel Fund to hold diesel at 29.94 baht per liter. However, the fund is losing more than 1 billion baht per day, so officials have warned that changes could start Tuesday.
Current Petrol Prices in Thailand (March 14 to 15, 2026)
Major fuel brands, including PTT, Bangchak, PT, Caltex, and Shell, list similar prices across Bangkok and nearby provinces such as Nonthaburi, Pathum Thani, and Samut Prakan. Prices below are baht per liter.
- Diesel B7: 29.94 at all major stations (PTT, Bangchak, PT, Caltex, Shell) due to the cap
- Gasohol 95: 31.05 at PTT, Bangchak, PT, Caltex, and 32.35 at Shell
- Gasohol 91: 30.68 at most stations
- Gasohol E20: 27.84 at PTT, Bangchak, and other large chains
- Gasohol E85: 25.79 at PTT and Bangchak
- Regular Gasoline (Benzin 95): about 39.64 at PTT, and up to 40.14 at PT
- Premium options:
- Gasohol 95 Premium: 40.04 at PTT, and much higher at Bangchak (49.54) and Shell (49.84)
- Premium diesel: about 43.44 to 45.64, depending on station and product
Meanwhile, several stations raised petrol and gasohol prices by about 0.50 baht per liter on March 15. Even so, diesel stayed locked at the capped rate.
These prices generally apply nationwide at major chains, although some areas may see small differences due to delivery and local costs.
Why the Diesel Cap Was Set, and Why It’s Ending
Thailand introduced the diesel cap in early March 2026 after global crude prices jumped. The increase followed rising conflict in the Middle East, including U.S. and Israeli actions against Iran.
To keep diesel near 30 baht per liter (set at 29.94), the Oil Fuel Fund paid heavy subsidies. At peak levels, support reached about 16 to 17 baht per liter. That support created daily losses above 1 billion baht, and total losses were expected to approach 10 billion baht by mid-March.
Key details:
- The government extended the cap for 15 days (March 3 to 17, 2026, with the cap ending March 16.
- Energy Minister Auttapol Rerkpiboon and Deputy Prime Minister Phiphat Ratchakitprakarn said the cap was meant as short-term relief.
- Refiners increased gross refinery margins from about 2 baht to 6 baht per liter, which added more pressure on retail prices.
Officials met refinery leaders this week to discuss margin levels. They also reviewed options such as adjusting excise taxes, although earlier tax cuts have already reduced government revenue.
What Could Happen to Diesel and Gas Prices After March 16
Most forecasts point to a step-by-step rise, not a sudden jump. Officials want to limit the hit to households and transport costs.
- Diesel: Many expect diesel to move up from 29.94 baht toward 31.94 baht per liter over the next few weeks. A first increase of 1 to 2 baht on March 17 is widely expected. If global oil stays high (some benchmarks sit above US$90 per barrel), more increases could follow in stages.
- Petrol and gasohol: Small weekly increases of 0.50 to 1 baht per liter may continue, with prices floating more freely. Some reports mention gasoline could rise by as much as 7 baht in extreme cases. Still, officials appear to prefer slower moves plus steps to reduce demand.
- Overall direction: Prices could settle if tensions ease, or if authorities approve more support or new borrowing limits for the Oil Fuel Fund. However, high global energy costs still point to upward pressure in Q2 2026.
Transport groups warn that higher diesel prices will quickly spread through the economy. In some areas, diesel makes up 35% to 40% of bus operating costs, so fare and goods price pressure could follow.
Chiang Rai Update: Local Prices Track National Levels
In Chiang Rai and other northern provinces, pump prices closely match national averages at major brands like PTT and Bangchak. As of mid-March 2026, diesel remains at 29.94 baht per liter, and gasohol prices stay close to Bangkok levels (for example, Gasohol 95 near 31.05 baht).
Once the cap ends, Chiang Rai drivers will likely see the same diesel increases as other provinces, often 1 to 2 baht at first. In more remote areas, delivery costs could add a small extra premium. Local farming and tourism may feel the impact early because trucks and boats rely heavily on diesel.
Government Options, and What It Means for Consumers
Officials say they need to protect consumers while keeping the Oil Fuel Fund sustainable. Current options include:
- Reducing subsidies in steps
- Adjusting excise taxes (with limits due to past revenue losses)
- Promoting energy-saving efforts to lower demand
For many Thai households, the cap ending likely means higher commuting and daily costs. Drivers should watch updates from the Energy Ministry and the Oil Fuel Fund Committee over the weekend, since the next decision is expected to take effect on March 17.
