Global Oil Prices Fall After Oman Helps Mediate; Thailand's Fuel Fund Still Holds Prices
CommodityMacro
Crude oil prices in the global market have started to decline after geopolitical tensions temporarily eased, with the United States opting for economic measures instead of military force, and Oman acting as a mediator. This has allowed shipping through the Strait of Hormuz to proceed normally, and preparations are underway to establish a safe shipping route. Meanwhile, slowing economies in Europe and China have reduced oil demand, prompting investors to rush to sell futures contracts. As of August 26, 2026, diesel prices stood at approximately 148 US dollars per barrel, and gasoline at about 113 US dollars per barrel. However, the Fuel Fund still bears a burden of about 215 million baht per day in energy price compensation, necessitating a freeze on domestic retail oil prices for now, with reductions to be made when conditions allow. The public is also being urged to conserve energy.
