Attapon has ordered a continuous search for oil, liquefied petroleum gas (LPG), and liquefied natural gas (LNG) sources to prevent shortages, even though a 60-day reserve is already in place. He appeals to the public to use energy sparingly and to use public transportation instead of private cars to reduce energy consumption.
On 3 Mar 2026 GMT+7, Mr. Attapon Rerkpiboon, Minister of Energy, announced that following the opening and meeting of the Emergency Energy Situation Monitoring Center to track unrest in the Middle East, although the Strait of Hormuz is not yet fully closed, global oil prices remain highly volatile, averaging around 75 to 85 US dollars per barrel—a 7% increase. If necessary, retail oil prices domestically can be stabilized using the Fuel Oil Fund as compensation. As of 1 Mar 2026, the Fuel Oil Fund's balance remains positive at 2,459 million baht.
Regarding crude oil imports from the Middle East in March, due to concerns over the safety of vessels passing through the Strait of Hormuz, plans have been made to shift purchases to West Africa and America, with shipments expected by the end of April. Export restrictions on oil reserves for domestic security will exclude the Lao People's Democratic Republic (Lao PDR), to which some oil will continue to be supplied since Thailand still depends on energy from Lao PDR. However, strict measures will prevent onward exports to third countries and certain nations with prior contracts. Inspections and cooperation requests will be made to oil traders to prevent excessive stockpiling.
As for liquefied petroleum gas (LPG), there is currently no impact. For April, management will involve refineries and petrochemical plants, as well as additional purchases from Petronas in Malaysia.
Regarding LNG, which Thailand imports from Qatar and which must pass through the Strait of Hormuz, evaluations are ongoing to determine feasibility. Negotiations are underway to procure spot LNG from other suppliers such as the United States, and maintenance schedules may be postponed to reduce impact. Spot LNG prices may be higher than those set by the Energy Regulatory Commission, potentially affecting the pool gas price. The Ministry of Energy will manage this fully to avoid impacts on reserves and prices.
On electricity, peak demand is expected to reach about 36,000 megawatts by late April. The Electricity Generating Authority of Thailand (EGAT) will manage fuel efficiently and adequately, including increasing power generation from hydroelectric plants and coal-fired plants, and suspending maintenance shutdowns during this period. To reduce fuel imports, the Ministry of Energy requests private and industrial sectors to adjust production plans appropriately and minimize energy use as much as possible.
“The Ministry of Energy assures it will implement all measures, including securing oil, LPG, LNG, and electricity reserves, to meet domestic demand during ongoing unrest in the Middle East. For oil prices, the Fuel Oil Fund will be used to mitigate impacts on citizens. The Ministry will continue to monitor the situation closely and requests private sectors to maximize energy efficiency, government agencies to reduce energy consumption, and the public to conserve energy and use public transportation instead of private cars to reduce energy imports as much as possible,” said the Ministry. Mr. Attapon concluded.