As fuel prices continue to rise, Thai officials have said the situation has moved into “level 2” of the energy crisis, where supply remains available but at significantly higher cost.
To respond to the crisis, the expert said the government must implement emergency measures while also preparing long-term energy strategies, as tensions in the Middle East are likely to persist.
However, he noted that diesel prices in Thailand may not exceed 60 baht per litre if the fuel excise tax is reduced.
“Vietnam has already cut its oil tax to ease pressure from rising prices. Thailand should also reduce its fuel excise tax. If that is not practical, an emergency fund to support vulnerable groups, such as farmers, could help alleviate financial pressures,” he said.
Malaysia has also maintained sufficient supplies to keep prices at RM1.99, equivalent to roughly 15 baht, per litre for two months since the start of the war, Malaysian Prime Minister Anwar Ibrahim said.