Thai consumers are more confident than at any time in the last 18 months according to a new university survey.

Long running political protests had sapped confidence before May’s military coup and for several months afterwards consumers were still spooked by a nighttime curfew and martial law, the latter of which remains in place to prevent political rallies.

But the University of the Thai Chamber of Commerce reports this week the consumer confidence index reached 81.1 in December, well up on the 79.4 of November – and the highest figure since the 81.6 of June 2013.

A cut in retail petrol prices helped changed the national mood, according to the university, saying it lowered the cost of living, freeing funds for discretionary spending. So, too, government subsidies to rice farmers.

“Consumer confidence in December was the highest in 18 months and back to a level before the domestic political unrest,” Thanavath Phonvichai, an economics professor at the university, told a media briefing on Wednesday.

“Lower oil prices helped increase disposable incomes and people felt more confident to spend, especially during the New Year season. The government’s acceleration of budget spending and investment could lift confidence (further) in coming months,” the professor said.