The government has rolled out a series of emergency measures aimed at preventing domestic fuel shortages, including boosting oil reserves and suspending most fuel exports, while assuring the public that the country’s energy supply remains secure.
Speaking at Government House on Thursday, Energy Minister Auttapol Rerkpiboon said the measures were discussed during a meeting chaired by Prime Minister Anutin Charnvirakul, with relevant agencies reviewing Thailand’s overall energy preparedness.
Mr Auttapol said Thailand currently has oil reserves sufficient to meet domestic demand for up to 95 days.
He explained that the previously cited estimate of 60–65 days referred to the country’s ability to sustain supply if no new oil imports were received. Since then, additional shipments from sources outside the Middle East have been secured.
“An additional 30 days of supply has already been arranged, bringing total reserves to around 95 days,” he said, adding that the figures will continue to be updated as further deliveries are confirmed through April, with more shipments expected in May.
To strengthen supply security, the Energy Ministry will require oil traders to raise their mandatory reserve levels from 1% to 3%, partly by retaining fuel that had previously been earmarked for export.
Exports of refined fuel have already been suspended, although exemptions remain for Laos and Myanmar due to long-standing mutual energy dependencies, including cross-border electricity trade linked to hydropower and gas-fired generation.
Mr Auttapol also outlined a phased contingency plan should global market conditions deteriorate. The first stage involves halting exports and increasing domestic reserves. As Thailand’s refining capacity currently exceeds domestic consumption, some refineries may reduce output while distributors build up stockpiles.
Additional measures could include raising the biodiesel blending ratio in diesel fuel. The blend could be increased from the current 5% to 7%, or even 10% if global diesel prices surge or supply shortages emerge.
If supply pressures intensify, importers may also be allowed to bring in finished petroleum products such as petrol and diesel instead of relying solely on crude oil imports. In such cases, the ministry may temporarily relax fuel specification standards, which are currently set at relatively strict environmental levels.
The government is also preparing to launch a nationwide energy-saving campaign, which will be proposed at next week’s cabinet meeting.
Mr Auttapol said the ministry would reassess the situation in 15 days. If global prices become more volatile, the Oil Fuel Fund could be used to stabilise domestic fuel prices. The fund has recently returned to a positive balance after previously carrying debts of about 120 billion baht, which were reduced to around 20 billion baht by October last year.