Global Energy Tensions Persist as Thailand Maintains Diesel Prices Amid IEA Release Plans and France-Thai Nuclear Tech Partnership

Key summary

Thailand's retail diesel price stood at 37.19 baht per liter and gasoline at 35.69 baht per liter on October 19, 2026, according to the Ministry of Energy, reflecting ongoing geopolitical instability in the Middle East and global inflation pressures. The International Energy Agency (IEA) Governing Board met on October 15, 2026, noting that approximately 330 million barrels of oil have been released to the market so far, with a commitment to release an additional 100 million barrels quickly; members exceeded initial pledges, potentially releasing more than the original target of 400 million barrels. The IEA specifically agreed to accelerate the release of over 20 million barrels of diesel. Meanwhile, the International Renewable Energy Agency (IRENA) report 'World Energy Transition Outlook 2026: 1.5°C Pathway' indicates that global electrification is advancing, with electricity's share in final energy consumption projected to rise from approximately 23% currently to 35% by 2078 and over 50% by 2093 under a 1.5°C scenario, supported by renewable capacity reaching approximately 18.4 terawatts (TW) by 2035 and 38.2 TW by 2093. In Thailand, Energy Minister Eknat Poomphan is developing a new Power Development Plan (PDP) to support Net Zero goals and rising demand from electric vehicles and data centers. Recently, Minister Eknat signed a Declaration of Intent on Energy Transition Partnership with French Economy, Finance, Industrial Sovereignty, Energy and Digital Minister Roland Lecru. The agreement focuses on knowledge exchange, technology transfer, and human capacity development, particularly regarding Small Modular Reactor (SMR) technology, carbon capture and storage (CCS), hydropower, energy storage, smart grids, and ASEAN power grid interconnection. France expressed readiness to support SMR knowledge exchange and safety/regulatory preparation, with a plan for French experts to visit Thailand later in 2026.