BANGKOK, Thailand – Thailand’s Energy Minister, Attapol Rerkpiboon, addressed concerns over the impact of recent US sanctions on two Russian oil companies, following an announcement by US President Donald Trump. While acknowledging that fuel prices in Thailand have risen temporarily, the minister reassured the public that long-term price stability is expected.
Minister Attapol explained that no private Thai companies currently hold contracts with the sanctioned Russian firms. “The immediate effect has been a short-term increase in fuel prices,” he said, “but for diesel, we are maintaining price stability through the government’s oil fund, which currently has a positive balance. This allows us to gradually use the fund to stabilize diesel prices for the public.”
He further emphasized that global oil supply remains sufficient, as OPEC+ continues to increase production steadily. “Although current news has caused a temporary price surge, in the medium to long term, oil prices are unlikely to rise significantly. The oil fund should be able to manage and mitigate price fluctuations,” Minister Attapol added.
The government’s proactive measures aim to protect consumers from volatility while ensuring that Thailand’s energy sector remains resilient amid international market disruptions. (TNA)
