Thailand's fuel consumption rose by 2.3% year-on-year in the first nine months of 2023 to 154 million litres per day (MLD) on average, in line with the country's economic growth, says the Department of Energy Business.
Demand for most types of fuel increased, but diesel consumption slightly fell by 4.5% to 69.2 MLD, down from 70 MLD in the corresponding period last year.
Department chief Nanthika Thangsupanich attributed the decrease to the economic slowdown as well as diesel usage peaking last year.
The government measure to reduce the domestic price of diesel to 29.94 baht a litre through excise tax reduction, down from 31.94 baht a litre, has not had a significant effect, she said.
The impact of the new diesel price, applicable from Sept 20 to Dec 31, is expected to become clear in October figures, said an energy business official who requested anonymity.
Authorities are using the state Oil Fuel Fund to help keep the diesel price below 30 baht a litre, causing a loss of almost 100 billion baht for the fund, the Oil Fuel Fund Office said earlier.
From January to September, demand for fuel oil dropped by 11.4% year-on-year to 5.62 MLD, down from 6.34 MLD year-on-year.
Consumption of other types of fuels increased during the nine-month period. Demand for gasoline and gasohol rose by 4.3% year-on-year to 31.7 MLD. Jet fuel consumption posted the highest growth, increasing 65% to 13.4 MLD, up from 8.14 MLD.
Liquefied petroleum gas (LPG) consumption increased by 1.5% year-on-year to 18.2 million kilogrammes per day, from 18.1 million kg per day.
Compressed natural gas consumption rose by 0.2% year-on-year to 3,430 tonnes per day, from 3,400 tonnes per day, thanks to a state policy to cap its domestic price.
The increases in fuel consumption also resulted from the tourism recovery, said Ms Nanthika.
During the first nine months, imports of crude oil, LPG and refined oil rose by 0.8% year-on-year to 1.043 million barrels per day (BPD), up from 1.034 BPD. The import value fell by 20% to 93.7 billion baht, down from 117 billion.
The export of refined oil declined by 3% to 164,808 BPD, from 167,695 BPD year-on-year.
The export value decreased by 18.7% year-on-year to 17.3 billion baht, down from 21.3 billion, as global oil prices fell.