Thailand’s oil reserves secure for 110 days, ministry confirms
Thailand has enough oil to last 110 days, the Ministry of Energy has confirmed, with daily diesel production averaging 83.2 million litres against daily sales of approximately 64.7 million litres.
The ministry broke down the total reserves into four components: 25 days of statutory reserves, 23 days of commercial reserves, 31 days of oil in transit, and 31 days of confirmed procurement.
Fuel prices remain heavily subsidised to shield consumers, transport operators, and businesses from rising global energy costs. As of Friday, the state Oil Fuel Fund carried a deficit of 59.45 billion baht, with daily diesel subsidies amounting to 520 million baht.
Fund managers are expected to soon seek approval for loan guarantees from the Ministry of Finance, which would allow the fund to borrow up to 150 billion baht to shore up liquidity.
The ministry listed current retail fuel prices based on PTT references: diesel (B7) at 48.40 baht per litre, diesel (B20) at 43.40 baht, gasohol E20 at 38.95 baht, gasohol 95 at 43.95 baht, and gasohol 91 at 43.58 baht.
Thailand’s average gasoline retail price of 43.95 baht per litre remains below those in neighbouring countries, including Cambodia, the Philippines, Laos, Myanmar, and Singapore, where prices range from 49.67 to 86.02 baht per litre. Diesel at 48.40 baht per litre is similarly cheaper than in those countries, where comparable prices run from 55.27 to 117.72 baht, reported Bangkok Post.
In another separate news, two oil refineries have denied any intention to take legal action against the Thai government after the Ministry of Energy ordered a cut in the diesel refining fee to lower retail prices. Energy Minister Akanat Promphan announced on April 7 that the refining margin for diesel types B7 and B20 would be cut by 2 baht, with retail prices falling by 2.14 baht per litre from April 8.
Both SPRC and Bangchak, which missed the ministerial meeting, later issued statements denying plans to sue, saying they remained willing to cooperate with government measures aimed at maintaining energy stability.
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