BANGKOK, Thailand – Thailand’s Fuel Fund (SAKONCH) has announced it will maintain the diesel price at 33 baht per liter by utilizing its fund management mechanisms, October 31. This price freeze is expected to remain as long as global oil prices do not exceed 100 USD per barrel. Currently, global oil prices stand at approximately 81.68 USD per barrel.
As of November 1, the Fuel Fund will initiate its debt repayment process, starting with a 139 million baht payment towards its principal debt. With a positive shift in cash flow, SAKONCH aims to clear its remaining 105.3 billion baht debt by September 2028. Fund Director Pornchai Jirakulpaisal reported that the fund is now bringing in an estimated 7,000-9,000 million baht per month, with 231 million baht in daily revenue from diesel and LPG contributions.
SAKONCH’s fund status, however, shows a deficit of 92.04 billion baht as of October 27, with 44.56 billion in oil-related debt and 47.47 billion in LPG-related debt. Scheduled debt payments will rise gradually, reaching 2.9 billion baht monthly by October 2025.
The Fuel Fund is currently drafting a fuel crisis response plan for 2025-2029, slated for completion by December 2024 for Cabinet review. In a recent assessment, the Fuel Fund’s revolving fund scored 4.45 out of 5, while its Integrity and Transparency Assessment (ITA) scored 95.96 out of 100, ranking it second among public organizations in the Ministry of Energy. (TNA)
