thai oil crisis

Thai Oil Crisis Eases After Government Intervention

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BANGKOK — Thailand’s fuel shortage crisis is beginning to ease following a series of government interventions aimed at stabilizing supply and distribution, the Department of Energy Business (DOEB) has confirmed.

Diesel Shortages Intensify Across Thailand, Pumps Run Dry

Deputy director-general Chatchai Khunlohit said the DOEB, together with the Department of Special Investigation and local authorities, has rolled out multiple measures to tackle bottlenecks that have left pumps dry and motorists queuing for hours across the country.

Reserve Requirements Tightened

Among the key interventions is Prime Minister Anutin Charnvirakul’s recent order requiring oil traders to boost reserves from 1 percent to 3 percent of annual sales volume — equivalent to 11 days of average consumption — by the end of April. The move reverses a March 6 exemption and initially faced pushback from retailers concerned about financial risks and potential losses should global oil prices fall once the Israel–US conflict with Iran subsides.

Distribution Accelerated

Authorities have also temporarily lifted restrictions on daytime oil truck deliveries in urban areas, allowing tankers to operate around the clock and speed up distribution to service stations struggling to meet demand. In addition, refineries and depots must now report daily delivery volumes, recipients and prices by 6pm — a measure designed to prevent supply from disappearing into unregulated channels.

Mr Chatchai noted that rumors circulating online have suggested politically-connected transport operators may have hoarded oil in anticipation of price hikes. While inspectors uncovered alleged hoarding by a trader in Ang Thong province last week, he stressed that no widespread hoarding has been detected.

Subsidies and Price Pressures

The government continues to subsidize diesel and gasoline but has warned that gradual price increases may be necessary if the Oil Fuel Fund cannot sustain its heavy financial burden. Inspections of more than 50 depots and 1,500 service stations nationwide have been conducted to ensure compliance and transparency.

To prioritize domestic needs, the government has also banned oil exports, except to neighboring Laos and Myanmar — a move aimed at keeping available supply within the country.

Refineries Ramp Up Output

Meanwhile, Bangchak Corporation has reported surging demand since the outbreak of war in the Middle East. Acting president Bundit Hansapaiboon said the company has increased refinery output by nearly 8 percent, raising production from 270,000 barrels per day to 290,000 at its Bangkok and Chon Buri facilities. Deliveries have also been stepped up to meet demand, particularly for diesel, which has spiked to 19 million liters per day.

Additional Measures Ease Pressure

The DOEB’s decision to allow sales of “dead stock” — unsold oil products stored in warehouses — has further eased pressure at service stations, providing an additional source of supply while refineries work to meet heightened demand.

Thailand Allows 24-Hour Fuel Deliveries to Ease Nationwide Shortages

For motorists who have endured long queues and empty pumps in recent weeks, the easing of the crisis offers some relief. However, authorities caution that the situation remains fragile, with global oil markets still volatile and the financial strain on the Oil Fuel Fund continuing to pose challenges in the weeks ahead.

-Thailand News (TN)

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