Gasoline and gasohol usage rose by 1.5% to 32 MLD due to a state price subsidy program.

Jet fuel usage surged by 19.5% to 16.7 MLD due to tourism growth under the visa-free policy.

However, diesel, LPG, CNG, and fuel oil consumption decreased.

The text reports a 9.3% decrease in diesel demand to 70.1 Million Liters per Day (MLD), compared to 77.4 MLD the previous year.

This decline occurred despite a diesel excise tax cut and a price subsidy scheme.

The reason for the decrease in diesel consumption in the first two months was not explained.

Diesel is important for both motorists and industries.

However, due to high household debt levels and cautious spending, as well as selective lending by banks, there was a decrease in demand for cars, particularly pickups, leading to less diesel consumption.

Additionally, Liquefied Petroleum Gas (LPG) consumption decreased by 2.7% to 16.6 million kilogrammes per day.

The National Economic and Social Development Council downgraded its GDP growth forecast for this year to 2.7%, from a previous range of 2.7-3.7%, with an average of 3.2%.

Thailand experienced a decrease in energy demand due to lower petrochemical manufacturing and a price increase for CNG.

Fuel oil consumption dropped by 23.9% and CNG usage fell by 15.9%.

Imports of crude oil, LPG, and refined oil decreased by 9.2% with a corresponding 6.3% drop in import value.

However, oil exports rose by 14.2% with a 14.8% increase in export value.

The lower demand was primarily driven by the decrease in petrochemical manufacturing and the price increase for CNG.