Thailand’s Energy Policy and Planning Committee has approved a fresh intervention in the fuel market, channeling 4.475 billion baht in excess refinery profits to lower diesel prices for the next month. The measure, effective from August 16 to September 15, will reduce the refinery gate price of diesel (B0, B7, B20) by 2.40 baht per liter.

This marks the sixth round of government action to rein in energy costs, bringing the total amount redirected from refinery profits to 17.42 billion baht. Energy Minister Ekanat Promphan underscored the government’s commitment to ensuring that windfall gains from high refining margins are returned to the public. “We want these benefits to ease the burden of energy costs for citizens,” he said, stressing that authorities will continue to monitor global oil price volatility and refinery margins.

The decision comes against a backdrop of turbulent global energy markets, where refinery capacity constraints and geopolitical risks in the Strait of Hormuz have driven margins higher. In July alone, excess refinery profits reached 9.735 billion baht, with part of that already allocated to earlier price cuts. The latest move leaves 2.445 billion baht in reserve for future adjustments.

For households and businesses, the intervention offers short-term relief from rising living costs, while signaling the government’s readiness to act decisively in the face of global energy uncertainty.