Mr. Phiphat Ratchakitprakarn, Deputy Prime Minister and Minister of Transport, as the Director of the Joint Management and Monitoring Center for the Situation in the Middle East, disclosed developments after the meeting, which covered the conflict situation, oil and energy procurement, as well as the increase of refining margin.
He clarified oil price management plans, confirming that diesel prices would be capped at THB 29.94 per liter by the directive of Mr. Anutin Charnvirakul, Prime Minister and Minister of Interior, until March 16. After that, relevant agencies will meet to determine how the prices will be adjusted.
For industrial oil, this part will require further negotiations to determine how industrial sector clients, as well as the agricultural sector, the Joint Management and Monitoring Center, the Ministry of Commerce, and the Ministry of Energy, will proceed next. As for gasoline, it may currently be adjusted weekly, based on the situation of continuously rising crude oil prices.
Mr. Phiphat stated that the crude oil stockpile for refining is sufficient for 98 days. The government is confident that the Ministry of Energy can procure additional oil and will negotiate purchases outside the Persian Gulf (Strait of Hormuz), which usually accounts for 50% of Thailand’s total demand, including Russia, after the United States lifted its sanctions.
He emphasized that there will be no fuel shortage in the country. However, for diesel with 7% biodiesel (B7), the proportion may increase to 10% (B10) and possibly expand to B20 (20%) in the future.
