Phiphat revealed that on 5 Mar 2026, the Ministry of Transport will issue a regulation controlling hire vehicles following the Middle East conflict. He stressed that price gouging is forbidden and warned of legal prosecution. He urged the public not to worry, noting the oil fund can help keep prices stable even beyond the 15-day deadline.
4 Mar 2026 GMT+7 Mr. Phiphat Ratchakitprakarn, Deputy Prime Minister and Minister of Transport, spoke at the Government House after meeting with Mr. Anutin Charnvirakul, Prime Minister and Minister of Interior, at the Thai Koo Fah Building for nearly an hour. He said he would bring the Prime Minister's directive on fixing transport fares to the meeting assessing the Middle East conflict situation, meeting number 2/2026 chaired by Deputy Prime Minister and Finance Minister Mr. Akeniti Nitithanprapas. The discussion will focus on transport costs, and the Ministry of Transport will hold a meeting tomorrow (5 Mar 2026).
When asked about transport fare policies due to their direct impact on product prices, Mr. Phiphat said the Prime Minister ordered fares to be fixed for as long as necessary, and the government can maintain fares accordingly since the oil fuel fund acts as a buffer. He noted that the oil fund has fluctuated in the past, once reaching a deficit of up to 100 billion baht, but is now positive. Thus, given the current abnormal situation with crude oil prices soaring, the oil fund can be used to offset costs, preventing prices from rising in line with world crude oil market prices.
Asked if the Prime Minister provided additional guidance if the 15-day price freeze expires, Mr. Phiphat said, it depends on the Prime Minister's policy. After the 15-day freeze, if the situation continues, fares can still be fixed further by using the oil fund as support.
When reporters asked whether the public should worry about fuel price hikes after 15 days, Mr. Phiphat replied there is no need to worry and confirmed there will be none due to the oil fund support. He further disclosed that tomorrow the Ministry of Transport will issue a regulation banning fare increases for all public transport, including taxis, Grab, motorcycle taxis, and others. Any attempt to exploit the situation by raising prices will lead to legal action. .