Thailand finance sector shrugs off oil shock: UOBKH

Whilst US oil prices rose to $86.4 by 10 March, Thai oil prices only inched up 1.6%.

Thailand’s finance sector is unlikely to be heavily impacted by the spike in global oil prices, said UOB Kay Hian.

“We reckon the finance sector has not been heavily impacted by the unrest. The current market concern should be the pressure from the spike in oil prices which could increase cost of living and cost of transportation,” said Thanawat Thangchadakorn, analyst at UOBKH in a March 2026 report.

Thangchadakorn said that the market “is too pessimistic on the finance sector” due to the conflict. “We remain positive on the sector's asset quality outlook in 2026.”

US oil prices have skyrocketed to $86.4 by 10 March 2026, from $67.28 on 27 February, following the eruption of conflict in the Middle East after the US and Israel launched strikes in Iran.

Oil prices in Thailand only increased 1.6% over the same period.

Diesel prices at Bangchak gas station have been maintained at THB29.94 per litre since then, Thanchadakorn said.

The government is also expected to maintain diesel prices at the current level to curb concerns around an increase in cost of living.