The Energy Ministry confirms Thailand's oil reserves are sufficient for 95 days and urges traders to raise stockpiles by 3% to counter hoarders, while preparing contingency plans if the situation extends.
On 6 Mar 2026 GMT+7, Veeraphat Kiattifungfu, Deputy Permanent Secretary and spokesperson for the Ministry of Energy, updated on the energy crisis triggered by Middle East conflicts. He confirmed Thailand’s oil reserves have risen to 95 days from the previous 60, following traders’ accelerated procurement and confirmed deliveries. Citing the Prime Minister’s order, he pressed traders to incrementally increase legal reserve requirements from 1% to 3% for long-term assurance, and suspended all oil exports except to Laos and Myanmar to preserve economic ties.
Additionally, the ministry has deployed officials nationwide to inspect service stations to prevent opportunistic oil hoarding amid surging demand in some areas. Traders have been ordered to promptly replenish shortages. To ease living costs, diesel prices will remain capped via the Oil Fund mechanism for another 15 days. Should the crisis continue through May, backup plans include deploying B100 biodiesel and importing cheaper Euro 4 standard oil as substitutes. On the electricity front, efforts are underway to boost Gulf of Thailand gas supply and increase hydropower and biomass energy. The ministry reaffirms that Thailand has sufficient energy supplies.