ACM Prajin Juntong, deputy NCPO chief who heads the committee, said the 14 satang diesel price reduction would take effect at 5am on Friday.
The pump price cut and the decision to freeze the price of LPG for household cooking was aimed at reining in the cost of living.
He also said a meeting of Ministry of Energy officials and others involved would be convened on June 15 to discuss energy prices, and the overall energy price structure would be decided by the end of the month.
The new diesel price applies in Bangkok and vicinity. Rural prices are slightly higher.