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Oil prices surge on Middle East crisis; Thailand warns of possible sharp pump hike by March 4

Nation Thailand · last updated

Thailand may face a sharp rise in domestic fuel prices—especially around March 4, 2026—as global oil prices surge amid an escalating Middle East crisis, according to a source at the Energy Ministry.

The source said authorities are checking national stockpiles and closely monitoring oil shipments through key maritime routes to manage supply risks, but warned that Thailand’s retail prices remain tied to global market movements.

Global oil prices jump, diesel seen testing $100 a barrel

The source said energy markets and the global economy were jolted by reports linked to the conflict, pushing global oil prices up rapidly. Diesel could break US$100 a barrel, after closing at around US$92 a barrel on Friday, February 28, 2026, the source said.

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