The committee, chaired by ACM Prajin Juntong, on Wednesday endorsed rises of one baht a litre for petrol and E85 gasohol, and 70 satang a litre for E10 and E20 gasohol. The collection on diesel remains unchanged.
The increases will add 500 million baht a month to the Oil Fund, which receives 2.18 billion baht monthly.
It had a loss of 9.79 billion baht as of Aug 3.
The 41-year-old Oil Fund was set up to minimise the impact of world oil prices on local retail prices and therefore the cost of living and consumer prices.
It collects fixed rates for different types of fuels, to be reviewed and set by the Energy Policy and Planning Committee.