Warning over $200 diesel price crisis

Bangkok Post · Yuthana Praiwan · 2026-10-21 19:08 UTC

Spot diesel prices could surge to US$200 per barrel if supply disruptions in the Middle East worsen, placing Thailand's heavily indebted Oil Fuel Fund under greater strain and increasing the likelihood of fuel tax cuts to shield consumers from rising energy costs, note analysts.

Spot diesel prices could surge to US$200 per barrel if supply disruptions in the Middle East worsen, placing Thailand's heavily indebted Oil Fuel Fund under greater strain and increasing the likelihood of fuel tax cuts to shield consumers from rising energy costs, note analysts.

The global energy market was thrown into fresh turmoil by a new wave of geopolitical conflicts in the Middle East, according to Wattanapong Kurovat, director-general of the Energy Policy and Planning Office (Eppo).

Attacks by Yemen's Iran-backed Houthi rebels on Saudi energy infrastructure and commercial vessels in the Persian Gulf have disrupted supply chains and raised transport costs.

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