General
Thailand Monitors Global Energy Volatility; Reserves Sufficient for 101 Days
The Ministry of Energy reports that Thailand has 101 days of oil reserves amid global price fluctuations caused by the U.S.-Iran conflict.
According to Khaosod Online Thailand, the Ministry of Energy is actively monitoring global energy market volatility driven by the unpredictable U.S.-Iran conflict. Veerapat Kiatfuengfoo, Deputy Permanent Secretary and Ministry spokesperson, noted that global oil prices in July rose by approximately 7–8 USD per barrel, or 10–12%, compared to June.
For residents and travelers, the Ministry emphasizes that Thailand is utilizing the Oil Fuel Fund and refinery price controls to mitigate the impact of these global price hikes on domestic retail costs. While neighboring countries have seen retail price increases, Thailand aims to maintain stability to reduce the cost-of-living burden. Regarding energy security, the Ministry confirmed that as of July 30, 2026, Thailand holds sufficient oil reserves to last 101 days.
Additionally, the cost of imported Liquefied Natural Gas (LNG), a critical component for electricity generation, has surged from approximately 11 USD to 18–20 USD per million BTU—an increase of nearly 60%—due to heightened supply risk assessments in the global market. The Ministry continues to monitor the situation closely to ensure power stability. It remains to be confirmed how long these price control mechanisms can effectively shield domestic consumers if global volatility persists or intensifies further.
Translated from Thai.
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