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Thailand Assures 103-Day Oil Supply, Boosts Market Transparency Measures

The Thai government has confirmed the country holds sufficient oil reserves to last approximately 103 days, with daily production closely matching consumption for both gasoline and diesel. To address temporary distribution bottlenecks in some areas, authorities have permitted round-the-clock fuel transportation nationwide. Regulatory bodies are intensifying inspections to curb hoarding and unjustified price increases, having already conducted thousands of checks. Furthermore, a new "Pump Radar" application has been launched in collaboration with the private sector to provide the public with real-time information on fuel availability.

Key Points: Thailand Oil Supply Secure for 103 Days, New Transparency Rules

  • 103 days of oil reserves on hand
  • Production meets daily gasoline and diesel demand
  • "Pump Radar" app launched for real-time fuel tracking
  • Government allows 24-hour fuel transport to ease bottlenecks
  • Over 2,300 inspections conducted to prevent hoarding
2 min read

Thailand confirms sufficient oil supply, advancing regulatory measures to enhance transparency market

Thailand confirms sufficient oil reserves, launches Pump Radar app for real-time fuel tracking, and intensifies inspections to prevent hoarding and price gouging.

"Thailand is currently not facing any oil shortages, with crude oil imports proceeding as normal. - Anutin Charnvirakul"

Bangkok, March 23

The Thai government has affirmed that the country maintains sufficient oil reserves to meet demand for up to 103 days, and it is advancing regulatory measures to enhance transparency in the market.

Sarawut Kaewtatip, director-general of the Department of Energy Business, confirmed on Sunday that Thailand maintains sufficient overall oil reserves, estimated to last around 103 days, with supply levels exceeding normal demand.

Thailand currently produces approximately 35.28 million litres of gasoline per day, closely matching the daily consumption of 34.41 million litres. For diesel, it produces around 79.91 million litres per day, which adequately meets domestic demand of averaging 67 to 70 million litres daily, he said.

In response to temporary distribution bottlenecks in some areas caused by a sharp surge in consumption, the government has allowed 24-hour fuel transportation nationwide, and the acceleration of distribution, he said.

The situation is expected to stabilise within one to two weeks, while irregularities in fuel transport are under investigation, he added.

Meanwhile, authorities have intensified inspections to prevent hoarding and unjustified price increases, said Deputy Director-General of the Department of Internal Trade Yanee Srimanee, adding that a total of 2,321 inspections have been conducted nationwide, with some violations identified and legal action taken.

Additionally, the Department of Energy Business has collaborated with the private sector to launch the "Pump Radar" application, allowing the public to monitor fuel availability in real time, Xinhua news agency reported.

Earlier on March 19, Thai Prime Minister and Minister of Interior Anutin Charnvirakul had said that Thailand is currently not facing any oil shortages, with crude oil imports proceeding as normal and oil production capacity and output remaining unchanged without any reductions.

Anutin had made the remarks during a meeting at the Joint Management and Monitoring Centre for the Situation in the Middle East, as reports said that drivers and riders across Thailand queued for petrol in recent days.

- IANS

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Reader Comments

P
Priya S
103 days of reserves is impressive! It shows proper planning. Hope the distribution bottlenecks get sorted soon for the common people there. Hoarding is such a menace everywhere.
A
Arjun K
While the measures sound good on paper, the fact that people were still queuing up shows a gap between official statements and ground reality. Authorities need to ensure supply chains are robust, not just have apps.
S
Sarah B
Interesting read. The 24-hour fuel transportation permission is a practical solution to a sudden demand spike. Global supply chains are so interconnected; stability in one region helps others too.
V
Vikram M
Transparency is key in the energy market. Over 2300 inspections is a significant number. Hope the legal action against violators acts as a strong deterrent. Price stability is crucial for everyone's budget.
K
Kavya N
The production and consumption numbers are nearly balanced, which is good economics. But the mention of the Middle East situation monitoring centre is a reminder of how global politics affects fuel prices everywhere, including here in India.

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