Peerapun advises the government to usethe Emergency Decree on Oil Fuel Shortage Prevention and SuppressionB.E. 2516 (1973) to handle the Iran crisis closing the Hormuz Strait, urging quick measures to freeze oil prices for at least one month to cope.He also promotes the model ofthe "National Strategic Petroleum Reserve".
On 3 Mar 2026 GMT+7, Peerapun Salirutwipak, leader of the Ruam Thai Sang Chart Party, presented recommendations to the government for managing the energy crisis caused by unrest in the Middle East leading to the closure of the Hormuz Strait, a key global oil shipping route. He called on the government to urgently consider measures to “freeze oil prices for at least one month” to prevent opportunistic price increases by traders and to alleviate the economic impact on citizens, proposing both short- and long-term management strategies.
Peerapun explained that in the short term, although the Energy Ministry reportedly plans to use the Oil Fuel Trading Act B.E. 2543 (2000) to ban oil exports, the law only authorizes the minister to “prohibit sales” but does not cover “export bans,” which is inconsistent with the current oil shortage context.
Therefore, to resolve the issue quickly and effectively, the government should consider enforcing the Emergency Decree on Oil Fuel Shortage Prevention and Suppression B.E. 2516 (1973). This law grants sole and absolute authority to the Prime Minister to ban oil fuel exports or imports and to fix oil prices during emergencies, enabling prompt control of the situation.
For long-term solutions, the Ruam Thai Sang Chart Party has proposed establishing a national Strategic Petroleum Reserve (SPR) system to ensure sustainable energy security, replacing reliance on the Oil Fuel Fund which often creates massive public debt. The key principle is shifting from collecting money into the fund to storing physical “oil fuel” reserves from traders. When global oil prices surge, the government can immediately release these lower-cost reserves to help the public.
Peerapun added that the country’s current oil reserves, about 60 days’ supply, are only commercial stock circulating in the system, which would be quickly depleted in a severe shortage crisis. Establishing the SPR system would increase Thailand’s oil reserve capacity by another 90 days.
“The Ruam Thai Sang Chart Party has completed drafting legislation on the National Strategic Petroleum Reserve and is eager to present this draft to the government for consideration, aiming to integrate cooperation to build energy security and concretely protect the interests of the Thai people,” Peerapun said.