Energy Minister Atthapol Ruangratanapiboon affirmed that oil reserves have increased to ensure 95 days of supply. He guaranteed there will be no shortage of oil, gas, or electricity and emphasized that the Oil Fund can sustain fixed diesel prices for 15 days, with a reassessment after the period ends.
At 17:30 on 5 Mar 2026 GMT+7, Mr. Atthapol Ruangratanapiboon, Minister of Energy, announced the outcomes of an energy measures meeting at the Government House. He clarified that the previously stated 60-day oil reserve actually amounts to 65 days. This means if no oil enters Thailand, the supply will last 65 days. He updated that aside from Middle Eastern sources, confirmed incoming oil supplies from the US, South Africa, and Malaysia add another 30 days. Normally, PTT trades oil and has partners; during crises, these partners can supply additional oil. "Counting from today, we have oil reserves sufficient for 95 days. These reserves will continue to increase; it's not that after 60 days we'll run out of oil," he said.
Regarding export suspension, there will be a Prime Ministerial order to suspend oil exports except to Laos and Myanmar, as these neighbors rely on energy from Thailand. This exception supports mutual care. Additionally, an announcement will increase required oil reserves from 1% to 3%, helping build confidence in domestic stockpiles.
On pricing, diesel prices will remain fixed for 15 days using the Oil Fund mechanism. Gasoline will receive partial support. As for gas—mostly used for 50-60% of electricity production—supplies come from Myanmar-Thai pipelines and LNG from Qatar. Although some LNG deliveries are delayed, the Energy Regulatory Commission has approved sourcing alternatives, with PTT confirming it can place orders next week. Thus, there is no concern over shortages.
Mr. Atthapol added that discussions on electricity production from various sources continue, including increased hydropower from Laos, gas from the Gulf of Thailand in joint Thai-Malaysian development areas, and coal power from the Electricity Generating Authority of Thailand. These efforts collectively ensure no shortage of oil, gas, or electricity.
When asked if panic buying might shorten the 95-day supply, Atthapol responded that such behavior is temporary. Once the public gains confidence from clear communication about adequate supplies, the situation at gas stations has improved significantly, with fewer people rushing to fill containers. Those who stocked up will naturally buy less moving forward.
Asked whether reports of some gas stations running out of fuel indicate hoarding, Atthapol denied this. The Ministry has instructed provincial energy offices to strictly prohibit stockpiling. Coordination with oil traders ensures sufficient supply. Any disruptions are minor and expected to resolve within one to two days due to the country's efficient logistics.
/ Regarding whether the 15-day diesel price freeze will be extended and plans for gasoline pricing, Atthapol explained that the Oil Fund is used to smooth price volatility—supporting price rises and recovering losses when prices fall. Previously, the fund was in deficit up to 120 billion baht but improved to a positive balance under the current government. The fund can respond effectively during crises. After 15 days, the situation will be assessed to determine ongoing support depending on the conflict's duration.
On the possibility of adjusting fuel formulas to increase supply, the minister said this must follow a stepwise approach. Currently, export suspension and increased reserves are priorities. If shortages worsen, domestic energy sources will be considered, such as raising biodiesel content from 5% currently to 7% or 10%. Importing refined oil is also an option if truly needed. They may reduce Thailand's high environmental fuel standards temporarily during crises to allow more diverse imports. The Ministry plans to propose an energy conservation campaign to the Cabinet on 10 Mar 2026.
