PATTAYA, Thailand – Thailand’s energy sector is preparing for a gradual rise in fuel prices starting March 18, as the government reviews measures to manage the country’s energy situation amid global uncertainty.
Energy Minister Auttapol Rerkpiboon, together with Permanent Secretary Prasert Sinsukprasert, convened an urgent meeting with representatives from major oil traders and refinery operators to closely assess the situation and address delays in fuel distribution.
Following the meeting, the Ministry of Energy announced several immediate measures to accelerate fuel deliveries to service stations. These include deploying additional tanker trucks and increasing both the frequency and volume of shipments from fuel depots to areas experiencing high demand.
Officials emphasized the need for cooperation across all sectors to restore supply levels at stations facing temporary shortages and to ensure the situation returns to normal as quickly as possible. The ministry also urged the public to remain calm and expressed confidence in Thailand’s overall energy stability.
Meanwhile, the government is expected to review fuel pricing measures during a Cabinet meeting on March 17. According to officials, diesel prices—currently supported by subsidies from the Fuel Fund—could gradually increase by 0.50 to 1.00 baht per liter starting March 18.
The Fuel Fund, which currently subsidizes diesel by more than 18 baht per liter, is now facing a deficit of over 12 billion baht after previously holding liquidity of more than 20 billion baht. Authorities are assessing options to maintain support measures.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said the caretaker government currently has limited authority to introduce new legislation, including proposals for an emergency borrowing decree to support the Fuel Fund. A new government is expected to begin full administration by late April or early May, which may allow broader policy responses.
Meanwhile, the country’s main energy company, PTT Public Company Limited, reaffirmed that Thailand’s fuel supply remains secure despite concerns over global shipping disruptions.
Jaturong Worawitsurawattana, Executive Vice President for International Trading at PTT, explained that the company’s refinery group is currently operating at full capacity, processing around 770,000 barrels of crude oil per day.
About 64 percent of the crude oil used by PTT refineries normally comes from the Middle East. However, during the ongoing conflict, shipments have been redirected to loading ports outside the Strait of Hormuz, including Fujairah in the United Arab Emirates and Yanbu in Saudi Arabia along the Red Sea.
For the remaining volumes that previously passed through the Strait of Hormuz—around six million barrels per month—PTT has secured alternative supplies through its global trading network, sourcing crude from West Africa, Latin America, and the United States.
The company has already arranged replacement shipments of six million barrels for April and is in the process of securing another six million barrels for May.
PTT stressed that these adjustments are part of its ongoing mission to maintain Thailand’s energy security, while also encouraging the public to conserve energy as global fuel prices remain high.
