Rising Fuel Costs in Thailand Drive Up Consumer Prices and Transport Expenses

Key summary

Thailand's retail fuel prices increased by 60 baht per liter effective October 21, 2569, raising diesel B7 to 43.54 baht, gasohol 95 to 42.04 baht, and benzene 95 to 51.03 baht as of October 24. This price hike adds to existing inflation pressures, with general inflation at 2.82% in September 2569 compared to the previous year. Household average spending rose by 326 baht to 21,217 baht between January and September 2569, driven partly by higher costs for food, beverages without alcohol (8,342 baht), and travel/communication (4,895 baht). The road freight service index for Q3 2569 increased 11.1% year-on-year due to diesel prices, with further cost pressures expected in Q4. Low-income groups, transport workers, farmers, and small businesses face significant burdens as they struggle to absorb rising costs or pass them on to consumers.