Thailand's Fuel Fund Faces Losses Amid Diesel Subsidies

Thailand is utilizing its fuel fund to maintain low domestic diesel prices, according to Jin10. Energy Minister Ataporn stated on Wednesday that the fund is currently incurring daily losses exceeding 1 billion baht (approximately $32 million), with cumulative losses expected to reach 10 billion baht by March 18. Despite these losses, the government plans to continue subsidies while assessing future actions based on the fund's status and global oil prices. Ataporn noted that during the early stages of the Russia-Ukraine conflict, the fund managed debts as high as 120 billion baht. However, he did not specify potential government actions if losses increase, though options may include gradually raising diesel prices and increasing the fund's borrowing limit. Commerce Minister Supachai reassured the public on Wednesday, stating, "There is no need to panic. If the situation persists, we will introduce additional measures. We are closely monitoring the situation."