Bangkok: PTT Group and the government have reassured the public of a stable oil supply in the wake of rising prices and a temporary diesel price freeze announced by the Prime Minister, which is set to end on March 16th. The announcement has led to a surge in fuel demand, overwhelming transportation networks and resulting in shortages at gas stations across both Bangkok and the provinces.
According to Thai News Agency, the Department of Energy is actively monitoring storage facilities to prevent hoarding and ensure compliance with fuel distribution quotas. PTT Group has confirmed ongoing negotiations for fuel imports to prevent any shortages and has urged the public to refrain from stockpiling, which could exacerbate transportation issues at gas stations.
The rush for fuel has led to chaotic scenes at gas stations, with sales being limited to 300-1,000 baht per vehicle due to the unprecedented demand. Gas station owners attribute this surge to the Prime Minister's 15-day price freeze on diesel and gasohol, which has significantly increased sales volumes. The average diesel sales, which were 70 million liters per day in February, spiked to 118 million liters per day due to public panic and hoarding. Similarly, gasoline sales rose from 34 million liters per day to 52 million liters per day.
Mr. Sarawut Kaewtathip, Director-General of the Department of Energy Business, chaired a meeting of the Coordination Center for Resolving Fuel Shortages Arising from the Conflict in the Middle East (CCRC) to define operational guidelines. The meeting aimed to integrate energy situation information among relevant agencies and prevent exploitation or hoarding of resources.
The Department of Energy Business is coordinating with provincial energy offices and relevant agencies to inspect fuel oil quantities and prices at service stations. Any identified hoarding or opportunistic practices will be addressed by provincial commerce offices in line with their duties. The department has also expedited fuel delivery to affected areas to minimize public impact.
PTT Public Company Limited and PTT Oil and Retail Public Company Limited (OR) have assured the public of sufficient oil supply sourced globally. Despite the ongoing conflict involving the United States, Israel, and Iran, PTT and its subsidiaries are adjusting national energy management plans to secure Thailand's energy needs.
Efforts include altering crude oil procurement strategies, such as changing product receiving ports and sourcing from other global regions like Africa and the Americas. Coordination with trading partners ensures consistent delivery plans and continuous crude oil supply for PTT Group refineries.
Furthermore, PTT requests cooperation from natural gas producers in the Gulf of Thailand and Myanmar to maximize production and defer maintenance. Additional spot LNG procurement is being arranged to offset shortages, with deliveries expected during March-April 2026.
PTT Group's operations at gas stations and major fuel depots remain active seven days a week, maintaining a continuous fuel transport flow to service stations. Despite increased demand, efforts are being made to meet this demand and minimize supply disruptions.
The public is encouraged to conserve energy and avoid hoarding, while service stations are urged to maintain comprehensive care for consumers. OR is committed to providing comprehensive service amid the Middle East unrest, managing continuous oil transportation and operating over 2,400 service stations nationwide.
While some service stations may face temporary supply issues due to delivery delays, OR assures the public that sufficient fuel supply will be maintained.