Attapol ordered an urgent search for oil, LPG, and LNG sources to prevent shortages despite having 60 days of reserves. He requested the private sector to adjust production plans suitably and minimize energy consumption as much as possible to the greatest extent.
On 2 March 2026, Attapol Rerkpiboon, Minister of Energy, revealed that after opening and holding a meeting at the Emergency Energy Situation Monitoring Center to track unrest in the Middle East, although the Strait of Hormuz has not been completely closed, global oil prices remain highly volatile, averaging around 75 to 85 US dollars per barrel, an increase of about 7%. If necessary to stabilize domestic retail oil prices, the Fuel Oil Fund can be used to compensate. As of 1 March 2026, the fund’s balance was positive at 2.459 billion baht.
Switching oil purchases from Africa
Regarding crude oil import plans from the Middle East in March, due to safety concerns for ships passing through the Strait of Hormuz, plans have been made to shift purchases to West Africa and America, expected to be sourced and delivered by the end of April. As for export restrictions on oil reserved for national security, Laos will be exempted with some oil still supplied, since Thailand depends on energy from Laos. However, strict measures will prevent onward exports to third countries and some countries with prior purchase agreements. Authorities will inspect and seek cooperation from oil traders to avoid excessive stockpiling.
LNG prices may rise
Attapol also said that LPG has not yet been affected. For April, management will utilize refinery and petrochemical outputs and purchase additional supplies from Petronas in Malaysia. Regarding LNG, which Thailand imports from Qatar through the Strait of Hormuz, investigations are ongoing to assess feasibility. Negotiations are underway to procure spot LNG from other sources such as America, and maintenance schedules may be postponed to reduce impact. Spot LNG prices may be higher than the Energy Regulatory Commission’s set rates and could affect the Pool Gas price. The Ministry of Energy will manage this fully to prevent impacts on reserves and prices.
Requesting private sector to adjust production plans
On electricity, peak demand is expected to reach about 36,000 megawatts in late April. The Electricity Generating Authority of Thailand (EGAT) will manage fuel efficiently and sufficiently, increasing electricity production from hydropower and coal plants, and postponing power plant maintenance during this period. To reduce fuel imports, the Ministry of Energy requests cooperation from the private and industrial sectors to adjust production plans appropriately and reduce energy consumption as much as possible.
The Ministry of Energy affirms it will implement all measures to secure sufficient reserves of oil, LPG, LNG, and electricity to meet domestic demand amid ongoing unrest in the Middle East. Regarding oil prices, the Fuel Oil Fund will be used to assist in reducing impacts on the public. The Ministry will continue to monitor the situation closely and urges the private sector to use energy efficiently. It also asks government agencies to reduce energy use and the public to conserve energy and use public transport instead of private cars to minimize energy imports as much as possible. Attapol said.