History of the Fuel Oil Fund

In B.E. 2516, crude oil prices in the world market continuously adjusted upwards, resulting in higher domestic fuel oil prices. The Cabinet at that time issued the Emergency Decree on the Correction and Prevention of Fuel Oil Shortages B.E. 2516, with key provisions granting the Prime Minister the authority to issue orders to determine measures to correct and prevent fuel oil shortages in response to various incidents occurring in each period. In B.E. 2520, the Organization of the Petroleum Exporting Countries (OPEC) announced an increase in crude oil prices, causing oil importers to be unable to bear the loss burden of importing crude oil for domestic refining or importing finished fuel oil for sale. The government adjusted the prices of petroleum products from domestic refineries upwards. However, the adjustment in wholesale prices was in a proportion lower than the increase in crude oil prices. The government therefore established the Fuel Oil Price Stabilization Fund under Prime Minister's Order No. 178/2520 dated 19 September 2520, regarding the determination of oil importers sending money to the Fuel Oil Price Stabilization Fund and the payment of compensation to oil importers, by having fuel oil producers and sellers, as well as importers of petroleum products, send money to the Fuel Oil Price Stabilization Fund, and using money from the Fuel Oil Price Stabilization Fund to pay compensation to oil importers. In B.E. 2521, the government announced an increase in the value of the baht, causing oil importers to profit from the exchange rate. The government considered that the arising profit was not profit from operations, and therefore issued Prime Minister's Order No. 206/2521 dated 29 December 2521, establishing the Price Stabilization Fund

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Updated:

11/08/2026

English title machine-translated from the Thai original

Record last updated 40 days ago