PATTAYA, Thailand – Escalating unrest in the Middle East has pushed global crude oil and refined fuel prices higher, prompting close monitoring by Thailand’s energy authorities.
PTT Public Company Limited (PTT), in coordination with the Ministry of Energy, said it is closely tracking developments and discussing joint response measures. PTT has also coordinated with PTT Oil and Retail Business Public Company Limited (OR) to maintain current retail fuel prices for now, aiming to ease the burden on the public.
The PTT Group urged energy users not to panic or hoard fuel, emphasizing that domestic oil reserves and transport systems remain normal and sufficient.
PTT reaffirmed its commitment to maintaining national energy stability to ensure the country can continue operating smoothly. However, the company acknowledged that prolonged conflict could affect global energy supply chains, particularly transportation routes through the Middle East, and potentially increase crude oil costs due to tighter supply conditions.
M.L. Peekthong Thongyai, Chief Executive Officer of OR, stated that rising global oil prices driven by international tensions are being closely monitored to assess potential impacts on consumers and service users.
“At this time, OR will not increase retail fuel prices in order to help alleviate consumer expenses,” he said. “We are closely monitoring global market movements while coordinating with relevant government agencies to ensure appropriate action in line with the overall national situation.”
OR also assured consumers that it has fully prepared its operational management systems and confirmed that fuel supplies remain sufficient to meet demand through its nationwide network of PTT Station service outlets. (TNA)
