the COVID-19 crisis that has spread across various countries in the world. This has caused crude oil price in the global market to sharp deteriorate since late Q1/2020 continuing into Q2/2020

the previous year. As Q3/2018 experienced sharp spikes in global crude oil price, coupled with the government measures to appoint retail Diesel price ceiling at THB 30 per liter, resulting in a

sharp contraction in the first quarter of 2020 as economic activity was crippled due to efforts to control the spread of COVID-19. The World Economic Outlook of the International Monetary Fund estimated

widespread of Covid-19 from the beginning of this year along with the imposition of the regulations on the usage of Sulphur which resulting in the sharp increase in the oil price in the world market also the