Thailand · Carbon price in fuel excise + crediting; ETS in draft law

Thailand: a THB 200 per tonne carbon price sits inside fuel excise, while an emissions trading law is still a draft

This page covers Thailand's only binding carbon price: since March 2025 the excise tax on fuels has carried a carbon component set at THB 200 per tCO2e. It also tracks the voluntary T-VER crediting programme and the draft Climate Change Act, which would create an emissions trading scheme but has not been passed.

13 November 2026In operationLast checked 2026-11-12
Bangkok skyline along the Chao Phraya River
Bangkok skyline along the Chao Phraya River. Photo: Piyatad, CC BY-SA 3.0, source. Resized only; no other change.
Summary

In brief

Thailand prices carbon at THB 200 per tCO2e inside the excise tax on fuels, under an Excise Department notification issued on 28 March 2025; the carbon part is THB 0.447 per litre of gasoline and THB 0.548 per litre of diesel.

The Excise Department says the first phase re-expresses existing fuel excise as a carbon tax without adding to the current tax burden.

The voluntary T-VER programme issued 4,355,196 tCO2e of credits in fiscal 2026 and has issued 28,247,683 tCO2e since fiscal 2014; traded credits have averaged about THB 86 per tonne.

An emissions trading scheme exists only in the draft Climate Change Act (205 sections), approved in principle by the cabinet on 2 December 2025 and under Council of State review since 5 May 2026.

Data

Credits, projects and the fuel price signal in charts

T-VER issuance rose from 339,537 tCO2e in fiscal 2015 to 4,355,196 tCO2e in fiscal 2026. The carbon component of fuel excise falls as more biodiesel or ethanol is blended in.

T-VER credits issued by fiscal year (tCO2e)

tCO2e01,500,0003,000,0004,500,0006,000,0002015201720192021202320264,355,196

Source: Thailand Greenhouse Gas Management Organization (TGO). Checked 2026-11-12. Standard T-VER, single and bundled projects. Thai fiscal year ends 30 September.

Table of the same figures
PeriodtCO2eSource (checked)
2015339,537Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
2016249,612Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
2017493,207Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
2018887,523Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20191,262,757Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20202,578,321Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20213,030,038Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20224,673,841Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20233,444,918Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20243,535,918Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20253,396,815Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
20264,355,196Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12

T-VER projects registered by fiscal year

projects037.575112.515020142017202020232026101

Source: Thailand Greenhouse Gas Management Organization (TGO). Checked 2026-11-12. Forestry and agriculture made up 75 of the 101 registrations in fiscal 2026.

Table of the same figures
PeriodprojectsSource (checked)
20149Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
201511Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
201619Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
201741Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
201850Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
201950Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
202045Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
202132Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
202253Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
202354Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
202496Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
202593Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
2026101Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12

Carbon component of diesel excise by biodiesel share (THB per litre)

THB/litre00.150.30.450.6B0≤4%4-7%7-9%9-14%14-19%19-24%0.431

Source: Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance. Checked 2026-11-12. Each band's rate = THB 200/tCO2e × the fuel's emission factor; more biodiesel means a smaller carbon charge.

Table of the same figures
PeriodTHB/litreSource (checked)
B00.548Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
≤4%0.537Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
4-7%0.518Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
7-9%0.504Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
9-14%0.485Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
14-19%0.458Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
19-24%0.431Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12

Carbon component of excise by fuel (THB per litre; LPG per kg)

THB per litre (LPG per kg)00.20.40.60.8GasolineE20KeroseneDieselLPG (kg)0.623

Source: Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance. Checked 2026-11-12.

Table of the same figures
PeriodTHB per litre (LPG per kg)Source (checked)
Gasoline0.447Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
E100.403Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
E200.358Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
E850.069Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Kerosene0.498Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Jet fuel0.498Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Diesel0.548Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Fuel oil0.618Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
LPG (kg)0.623Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12

Average traded T-VER price by project type (THB per tCO2e)

THB/tCO2e0125250375500RenewablesInd. wastewaterSolid wasteForestry & agri39.95123.99172.68411.21

Source: TGO Open Data. Checked 2026-11-12. Weighted averages of bilateral trades accumulated since fiscal 2016, TGO open data to April 2026.

Table of the same figures
PeriodTHB/tCO2eSource (checked)
Renewables39.95TGO Open Data 2026-11-12
Ind. wastewater123.99TGO Open Data 2026-11-12
Solid waste172.68TGO Open Data 2026-11-12
Forestry & agri411.21TGO Open Data 2026-11-12
Chronology

Timeline

No future dates are officially set: the ETS has no start date until the Act passes.

From the first T-VER projects to the draft Climate Change Act

  • 2014First T-VER projects registered with TGO (9 in fiscal 2014).
  • 2024-09-30Excise Department says the first phase will turn existing fuel excise into a carbon tax with no extra burden.
  • 2024-12-11Cabinet backs a plan to prepare for border carbon adjustments (CBAM), later cited as the basis for the carbon price.
  • 2025-03-28Excise Department issues the notification setting a THB 200 per tCO2e carbon price for fuels.
  • 2025-03-29The carbon price takes effect, from the day after issue.
  • 2025-04-22The notification is published in the Royal Gazette.
  • 2025-12-02Cabinet approves the draft Climate Change Act (205 sections) in principle, including an ETS.
  • 2026-02-20Excise Department signs an MOU with 18 companies on a digital oil-data link for a future carbon tax.
  • 2026-05-05The Council of State begins its first-round review of the draft Act.
  • 2026-09-30Fiscal 2026 closes with a record 101 T-VER registrations and 4.36 million tCO2e issued.

Source: Thailand Greenhouse Gas Management Organization (TGO); Excise Department, Ministry of Finance; Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance; Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment; Department of Climate Change and Environment (DCCE).

Mechanism

How it works

How the THB 200 price reaches a litre of fuel.

How the carbon price works inside fuel excise

  1. Step 1

    Set the price

    Excise Department notification fixes the carbon price at THB 200 per tCO2e.

  2. Step 2

    Apply emission factors

    Each fuel's emission factor per unit converts the price into a per-litre (or per-kg) amount.

  3. Step 3

    Show it in the tariff

    Ministerial Regulation No. 41 (2025) splits the excise rate to show the carbon component.

  4. Step 4

    Collected with excise

    Producers and importers pay it as part of fuel excise, e.g. THB 0.548 per litre of diesel.

  5. Step 5

    Signal to consumers

    The total excise burden was not raised; two retailers show the carbon emitted per fill.

Source: Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance; Excise Department, Ministry of Finance.

Coverage

Scope

What the fuel carbon price covers, and what the draft law would add.

Coverage and design

Source: Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance; Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment; Department of Climate Change and Environment (DCCE). Checked 2026-11-12.

Table of the same figures
ItemRule
Gasoline / gasoholTHB 0.447 per litre (gasoline); E10 0.403; E20 0.358; E85 0.069
Kerosene and jet fuelTHB 0.498 per litre
DieselTHB 0.548 per litre, down to 0.431 for blends with 19–24% biodiesel
LPGTHB 0.623 per kg
Fuel oilTHB 0.618 per litre
National targets citedNDC 30–40% below BAU by 2030; carbon neutrality 2050; net zero 2065
Draft Climate Change Act205 sections; ETS, CBAM, carbon tax and carbon credits
Draft ETS design (2024 consultation draft)Cap in line with national targets; free allocation and/or auction; fine up to 3× the average auction price for excess emissions
Offsets

Credits and offsets

Thailand's carbon credits come from the voluntary T-VER programme run by TGO.

T-VER at a glance

Source: Thailand Greenhouse Gas Management Organization (TGO); TGO Open Data; Department of Climate Change and Environment (DCCE). Checked 2026-11-12.

Table of the same figures
ItemStatus
ProgrammeThailand Voluntary Emission Reduction Program (T-VER), run by TGO
Projects registered654 Standard T-VER projects, fiscal 2014–2026
Credits issued28,247,683 tCO2e in 456 issuances, fiscal 2014–2026
Expected reductions, registered projects17,174,981 tCO2e a year
Premium T-VER9 projects registered (fiscal 2024–2026); first 60 tCO2e issued in fiscal 2026
Traded since fiscal 20164,904,654 tCO2e worth THB 423,371,187 (to April 2026)
Average traded priceAbout THB 86 per tCO2e; forestry and agriculture THB 411.21, renewables THB 39.95
Exchange trading13,665 tCO2e on the FTIX exchange vs 4,083,549 tCO2e bilateral
Use in a future ETS (2024 draft)Banking or offsetting up to 15% of allowances to be surrendered
Reference

All figures

67 figures with numbers, each linked to the official text with the date we checked it.

ItemValueSource (checked)
Carbon price used in fuel exciseTHB 200 per tCO2eRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Excise notification issued (signed by Director-General)28 March 2025Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Notification published in the Royal Gazette22 April 2025 (Vol. 142, Special Part 171 D, page 7)Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Entry into force rule (clause 3)From the day after the date of issue, i.e. 29 March 2025 (issued 28 March 2025, f02)Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Legal basis: tariff schedule amended by Ministerial Regulation No. 41Ministerial Regulation prescribing excise tariff rates (No. 41) B.E. 2568 (2025)Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
How the per-unit carbon component is setCarbon price (THB 200/tCO2e) multiplied in proportion to each product's emission factor per unitRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Unleaded gasolineTHB 0.447 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Gasohol E10THB 0.403 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Gasohol E20THB 0.358 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Gasohol E85THB 0.069 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: KeroseneTHB 0.498 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Jet fuel (other than heading (1))THB 0.498 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel, sulphur ≤0.001% (no biodiesel)THB 0.548 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel with biodiesel ≤4%THB 0.537 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel with biodiesel >4% to 7%THB 0.518 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel with biodiesel >7% to 9%THB 0.504 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel with biodiesel >9% to 14%THB 0.485 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel with biodiesel >14% to 19%THB 0.458 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Diesel with biodiesel >19% to 24%THB 0.431 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: LPGTHB 0.623 per kgRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Carbon component per unit: Fuel oilTHB 0.618 per litreRoyal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Implied emission factor, unleaded gasolineabout 2.24 kgCO2e per litre (= 0.447 / 200 × 1,000; facts f07, f01)Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Implied emission factor, dieselabout 2.74 kgCO2e per litre (= 0.548 / 200 × 1,000; facts f13, f01)Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
NDC target cited in the notification30-40% below business-as-usual by 2030Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Long-term targets cited in the notificationCarbon neutrality by 2050; net-zero GHG by 2065Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Cabinet resolution on CBAM preparedness plan cited as background11 December 2024Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance 2026-11-12
Excise Department FY2025 report: carbon price and legal formMinisterial regulation plus Excise notification setting THB 200 per tonne of carbonExcise Department, Ministry of Finance 2026-11-12
Retailers showing per-fill carbon emissions with the Excise Department2 companies (PTT OR and Bangchak)Excise Department, Ministry of Finance 2026-11-12
First phase design: convert existing fuel excise into carbon-tax formExisting oil excise re-expressed as carbon tax, no extra burden on the public (announced 30 Sep 2024)Excise Department, Ministry of Finance 2026-11-12
Effect on current excise burdenAdding the mechanism does not change the current excise tax burden (stated 2024)Excise Department, Ministry of Finance 2026-11-12
Social cost of carbon range in Excise Department study noteTHB 192-3,133 per tonne of carbon; average THB 483Excise Department, Ministry of Finance 2026-11-12
MOU on digital oil-volume data link to support a carbon taxSigned 20 Feb 2026 with 18 companies (13 oil companies, 4 transporters, 1 aviation refueller)Excise Department, Ministry of Finance 2026-11-12
Cabinet approves draft Climate Change Act in principle2 December 2025Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment 2026-11-12
Size of the cabinet-approved draft Act14 chapters, 205 sectionsDepartment of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment 2026-11-12
Carbon pricing instruments in the draft ActETS (allowance allocation), CBAM, carbon tax and carbon creditsDepartment of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment 2026-11-12
Council of State first-round review of the draft Act begins5 May 2026 (Council of State Committee 7)Department of Climate Change and Environment (DCCE) 2026-11-12
ETS chapter in the 2024 consultation draftChapter 8, sections 72-99: cap set in line with national targets; allowances allocated free and/or by auctionDepartment of Climate Change and Environment (DCCE) 2026-11-12
Banking/offsetting limit in the 2024 consultation draft ETSUp to 15% of allowances to be surrenderedDepartment of Climate Change and Environment (DCCE) 2026-11-12
Penalty for excess emissions in the 2024 consultation draftAdministrative fine up to 3 times the average auction price of allowancesDepartment of Climate Change and Environment (DCCE) 2026-11-12
Carbon tax chapter in the 2024 consultation draftChapter 10, sections 118-147; rates set by ministerial regulation up to a ceiling in the Act's scheduleDepartment of Climate Change and Environment (DCCE) 2026-11-12
Size of the 2024 consultation draft202 sections in 14 chaptersDepartment of Climate Change and Environment (DCCE) 2026-11-12
T-VER programmeThailand Voluntary Emission Reduction Program run by TGO; credits from registered projects may be traded in the voluntary marketThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER projects registered per fiscal year, FY2014-FY2026 (single and bundled)9, 11, 19, 41, 50, 50, 45, 32, 53, 54, 96, 93, 101Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER projects registered, FY2014-FY2026 total (single and bundled)654 projects (sum of f43)Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER projects registered in FY2026 (Oct 2025-Sep 2026)101 projects, the highest of any fiscal yearThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Forestry and agriculture share of FY2026 registrations75 of 101 projectsThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Expected annual reductions of projects registered in FY20261,660,056 tCO2eThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Expected reductions of projects registered per fiscal year, FY2014-FY2026114,237 … 1,660,056 tCO2e (13 years)Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER credits issued per fiscal year, FY2015-FY2026339,537 … 4,355,196 tCO2e (12 years)Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER credits issued, cumulative FY2014-FY202628,247,683 tCO2eThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Issuance events (project-issuances) counted FY2014-FY2026456Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER credits issued in FY20264,355,196 tCO2e from 57 project issuancesThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Standard T-VER credits issued in FY2022 (previous peak)4,673,841 tCO2eThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Premium T-VER projects registered, FY2024-FY20264, 3 and 2 projects (9 in total)Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Premium T-VER credits issued in FY2026 (first issuance)60 tCO2eThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Expected reductions of all registered Standard T-VER projects17,174,981 tCO2e per yearThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Expected reductions of registered Premium T-VER projects26,051 tCO2e per yearThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
First T-VER project registrations in the TGO statisticsFiscal year 2014 (9 projects)Thailand Greenhouse Gas Management Organization (TGO) 2026-11-12
T-VER credits traded, accumulated since FY2016 (data to April 2026)4,904,654 tCO2e across 8 project typesTGO Open Data 2026-11-12
Value of T-VER credits traded, accumulated since FY2016 (data to April 2026)THB 423,371,187TGO Open Data 2026-11-12
Average traded T-VER price, all types (accumulated since FY2016)about THB 86.3 per tCO2e (= f60 / f59)TGO Open Data 2026-11-12
Weighted average traded price, forestry and agriculture creditsTHB 411.21 per tCO2e (range THB 55-3,000)TGO Open Data 2026-11-12
Weighted average traded price, renewable energy creditsTHB 39.95 per tCO2e (range THB 18-500)TGO Open Data 2026-11-12
Renewable energy share of traded T-VER volume3,414,902 of 4,904,654 tCO2e (about 70%)TGO Open Data 2026-11-12
Weighted average traded price, industrial wastewater creditsTHB 123.99 per tCO2eTGO Open Data 2026-11-12
Weighted average traded price, solid waste creditsTHB 172.68 per tCO2eTGO Open Data 2026-11-12
Weighted average traded price, sustainable afforestation methodologyTHB 1,885.47 per tCO2e (4,957 t traded)TGO Open Data 2026-11-12
Weighted average traded price, project-level REDD+ methodologyTHB 1,112.04 per tCO2e (47,993 t traded)TGO Open Data 2026-11-12
T-VER volume traded on the FTIX exchange (period not stated on the page)13,665 tCO2e (sum of 5 project types), against 4,083,549 tCO2e bilateral (OTC) on the same pageThailand Greenhouse Gas Management Organization (TGO) 2026-11-12
Questions

Frequently asked questions

Does Thailand have a carbon tax?

Yes, in a limited form. Since March 2025 the excise tax on fuels includes a carbon component priced at THB 200 per tCO2e. There is no carbon tax on facility emissions yet; that is in the draft Climate Change Act.

How much is the carbon component per litre of fuel?

THB 0.548 per litre of diesel, THB 0.447 for gasoline, THB 0.358 for gasohol E20, THB 0.498 for jet fuel and THB 0.623 per kg of LPG.

Did the carbon price raise fuel prices?

The Excise Department said the first phase re-expresses existing fuel excise as a carbon tax and does not add to the current excise burden.

Does Thailand have an emissions trading scheme?

Not yet. An ETS is part of the draft Climate Change Act (205 sections), approved in principle by the cabinet on 2 December 2025 and under Council of State review since 5 May 2026. No start date is set.

How many T-VER credits are issued each year?

4,355,196 tCO2e in fiscal 2026 (October 2025 to September 2026), close to the fiscal 2022 peak of 4,673,841 tCO2e. 28,247,683 tCO2e have been issued since fiscal 2014.

What do T-VER credits sell for?

About THB 86 per tCO2e on average across trades since fiscal 2016. Forestry and agriculture credits averaged THB 411.21 and renewable energy credits THB 39.95.

How was the THB 200 level chosen?

Official documents do not explain the level. An Excise Department study note puts the social cost of carbon at THB 192–3,133 per tonne, averaging THB 483, so THB 200 sits near the bottom of that range.

Gaps

Not listed yet

Items we could not confirm in an official text are left out on purpose.

  • Full text and date of Ministerial Regulation No. 41 (2025): the Royal Gazette search is behind a bot check.
  • Revenue raised by the carbon component: not published separately from oil excise.
  • The temporary B20/E20 excise cut from 28 October 2026: no official document could be opened.
  • Year-by-year T-VER trading volumes and prices: TGO publishes only cumulative totals.
  • ETS start date, sectors and thresholds: not set while the Act is in draft.
  • Ministerial Regulation No. 41 B.E. 2568 (full text and date) — Cited in the Excise notification; the Royal Gazette search page is behind a bot challenge (not bypassed) and the Excise ministerial-regulation list online stops at 2022.
  • Revenue raised by the carbon component — No official figure found; the Excise Department reports oil excise revenue only in total.
  • Temporary excise cut on B20 and E20 from 28 Oct 2026 — Reported in the press as keeping the carbon component; no Excise Department or Royal Gazette document could be opened (thaigov.go.th and ratchakitcha search blocked by bot checks).
  • Annual T-VER traded volumes and prices by year — TGO open data gives only cumulative totals since FY2016 (last updated April 2026); the TGO trading chart page gives no period.
  • ETS start date, covered sectors and thresholds — The draft Climate Change Act is still under Council of State review; no official date or coverage has been set.
  • Cabinet-approved (205-section) draft text — Only the 2024 consultation draft summary (202 sections) is published; ETS details are taken from that draft and may change.
Record

Sources