Thailand Sets Diesel Cap as Middle East Conflict Pumps Up Oil Prices

By Ying Xian Wong

Thailand has set a 15-day cap on diesel prices to cushion against the impact of rising oil prices as the conflict in the Middle East sends energy costs soaring.

"Prime Minister Anutin Charnvirakul has taken an urgent action to ease the impact of rising oil prices on the public's cost of living," the government public relations department said.

The country's energy authorities have fixed diesel prices at 29.94 baht per liter for 15 days, effective immediately, it said.

The government will assess the need for additional support measures after the 15-day period.

Oil and gas prices have surged this week after the U.S. and Israel launched an attack on Iran that has since intensified into a wider conflict. That is creating concerns about the economic impact for Asia, which relies heavily on the Middle East for energy.

Earlier this week, state-backed PTT Exploration & Production said it is closely monitoring the situation.

In a statement on Monday, the energy group said that its petroleum exploration and production activities in the United Arab Emirates and Oman were unaffected and that it has evacuated personnel from high-risk areas.

PTTEP said it has activated a business continuity plan to manage operations during the uncertainty.

In Thailand, the company is maximizing natural gas output in the Gulf of Thailand and adjusting planned maintenance shutdowns to help ensure domestic petroleum supply and energy security.

All service stations across Thailand operated by PTT will sell diesel at the capped price, Anutin said in a post on Facebook.

Write to Ying Xian Wong at yingxian.wong@wsj.com

(END) Dow Jones Newswires

March 04, 2026 01:16 ET (06:16 GMT)