Thailand Seeks Russian Oil and Sets New Diesel Price Cap
Thailand is negotiating to buy Russian crude oil while preparing for domestic diesel prices to rise on Wednesday. The government aims to cap fuel at 33 baht.
Thailand is exploring a potential crude oil purchase from Russia as part of a broader strategy to manage domestic energy costs. Deputy Prime Minister Phiphat Ratchakitprakarn announced on Tuesday that the nation's foreign minister engaged in discussions regarding the acquisition during a recent diplomatic meeting in Europe, with negotiations currently ongoing.
The initiative arrives as the Thai government prepares for a scheduled increase in diesel prices. Following the expiration of a 15-day price cap of 29.94 baht per litre, domestic rates are expected to rise on Wednesday. The administration is now focused on establishing a new threshold to protect consumers from extreme volatility.
