In a major strategy shift, Prime Minister Anutin Charnvirakul apologized for recent fuel market instability, admitting the government’s initial oil price caps were based on the mistaken belief that the Middle East crisis would be brief. With global energy security remaining under threat and fuel shortages hitting local stations, the administration has pivoted toward a more flexible strategy designed to protect high-priority sectors like farming, fishing, and transport.
To stabilize the situation, Thailand has successfully negotiated with Iran to ensure safe passage for oil tankers through the Strait of Hormuz. Domestically, the government is phasing out strict price caps to prevent smuggling and hoarding, while maintaining targeted subsidies for the public. As the country prepares for the Songkran holiday travel rush, the Prime Minister has also called for a national conservation effort, urging every household to save one liter of fuel per day to drastically reduce the nation’s reliance on expensive imports.
Credit : CGTN
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