Thai oil companies told to boost reserves as Russia-Ukraine war continues

“Maintaining stability in fuel supply is very important in the current situation. We must ensure that Thailand has enough fuel for domestic use, while the rising price of fuel will be treated as a separate issue,” Energy Minister Supattanapong Punmeechaow said.

He made the comment after attending a meeting with Finance Minister Arkhom Termpittayapaisith, Bank of Thailand governor Sethaput Suthiwartnarueput and Securities and Exchange Commission (SEC) secretary-general Ruenvadee Sawanmongkol to discuss how the global oil crisis will impact the Thai economy.

“The ministry will continue fixing the price of diesel at 30 baht per litre to help the transport sector,” he said. “Currently the Oil Fund, which subsidises the price of fuel, has a borrowing limit of 30 billion baht. If the global oil crisis persists and fuel subsidies continue being required, we will consider raising…