Prof. Sukhum praises Deputy Prime Minister Anutin Charnvirakul's order to cap oil prices as a timely decision aligned with the global energy crisis. He believes this offers the government an opportunity to demonstrate its competence and urges the public to respond with composure and awareness rather than panic.,
On 4 March 2026 GMT+7, Associate Professor Sukhum Nuansakul, former rector of Ramkhamhaeng University, expressed his opinion on the Thai government's management approach. He stated that Deputy Prime Minister Anutin Charnvirakul's measure to cap oil prices at this time is a decision moving in the right direction and effectively responds to the situation in a timely manner.
Prof. Sukhum explained that the current Middle East crisis represents a conflict occurring in a globally significant energy region, causing oil prices to fluctuate. Countries like Thailand, which rely heavily on oil imports, inevitably face difficult-to-avoid impacts from such volatility.
"This is a conflict in the world's energy source region. Thailand depends heavily on oil, so the impact is unavoidable. The key issue is how the government manages this to minimize excessive effects on the population," he said.
He further observed that amid global energy market fluctuations, oil companies naturally seek business opportunities and tend to raise prices according to market conditions. Therefore, the government's role in regulation is crucial. Previously, reports indicated some oil companies raised their prices, prompting the Deputy Prime Minister to order price caps to control the situation. Prof. Sukhum noted this decision was timely and a measure that the public would support.
"The government must keep the situation within limits because oil companies will see opportunities when prices rise. The Deputy Prime Minister's order to cap prices is timely. From a citizen's perspective, this deserves praise, as it prevents immediate cost-of-living impacts," he said.
Prof. Sukhum also discussed the role of the Oil Fuel Fund, describing it as a key mechanism for maintaining the country's energy price stability. During crises like this, it is the time to utilize this tool to its fullest. Since Thailand already has the Oil Fuel Fund, it is now time to deploy it to protect citizens from sharp increases in the cost of living.
The oil price crisis is not new to Thailand, as past energy crises forced heavy use of the Oil Fuel Fund, which even went into deficit. However, the current situation is comparatively better, as the fund still has sufficient reserves to serve as a tool to stabilize prices.
Regarding the global energy market, Prof. Sukhum explained that although the Middle East conflict causes energy tensions, the market mechanism will balance the situation over time. If the crisis prolongs, oil-producing countries in the Middle East cannot halt production or exports indefinitely. If the world shifts to other energy sources, new producers will emerge to replace them.
"Eventually, Middle Eastern oil producers will have to resume production and exports because if the world adapts, other countries will increase capacity to fill the gap. This is the natural mechanism of the global energy market," he said.
Prof. Sukhum added that in such a crisis, the most important thing is to foster understanding between the government and the public. Citizens should monitor the situation calmly without panic, while the government must implement measures to mitigate the impacts as much as possible.
"The public must understand the global situation, but at the same time, the government must do everything possible to minimize citizens' hardships. This global crisis is also an opportunity for the government to demonstrate its capability in managing the situation. Successfully stabilizing the economy and controlling the cost of living will greatly boost public confidence," he concluded.