The Thai government convened a meeting at Government House in Bangkok on March 9 to address rising energy costs and supply risks linked to tensions in the Middle East. Deputy Prime Minister Phiphat Ratchakitprakarn, also the transport minister, outlined measures to control prices of petrol, diesel, LPG, and LNG, calming public concern. The government clarified that Thailand possesses oil reserves sufficient for up to 95 days, prompting discussions on contingency plans in case crude oil shipments through the Strait of Hormuz are disrupted.
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Phiphat stated that diesel prices would be frozen for 15 days, subject to review. Petrol prices remain unfrozen, though the government may increase prices gradually under PTT’s pricing mechanism if required. Despite concerns, Phiphat reassured that there would be no oil shortages, with alternative sources continuously replenishing supplies.
He further explained the issue of industrial buyers purchasing through intermediaries rather than directly from service stations. Jobber transactions depend on buying and reselling at varying prices, with uncertainty during crises when companies may stop selling to intermediaries. This situation has led to higher costs, with diesel at 29.94 baht per litre at service stations compared to a benchmark of 40 baht in Singapore.
Industrial buyers facing higher prices are advised to present past purchase invoices to provincial authorities for procuring fuel at ministry-set prices. Invoices from the last two months can be used to continue purchasing from familiar depots like PTT, Bangchak, or PT. Without these invoices, buyers might encounter fluctuating prices, announced at 10 baht, as per Phiphat, reported The Thaiger.
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Adapted by ASEAN Now · The Thaiger · 10 Mar 2026