Bangchak Group's Q2 2026 net profit attributable to shareholders was 12,239 million baht, up 99% from the prior quarter, helped by a smaller oil hedging loss (879 million baht) and first commercial SAF sales (39 million litres since May 2026). Management warns that energy price swings, product price spreads and geopolitical events could still hit profit for the rest of the year. Its retail arm now also runs 31 service stations in Hong Kong after buying Chevron's Hong Kong unit on 30 June 2026. For a Thai SME, the signal is that fuel-related costs and margins remain volatile, so keep fuel and energy budgets flexible rather than locked to one price assumption.