Speaking yesterday (Mar 3), Director-General Witthayakorn Maneenet said the move followed instructions from Commerce Minister Supajee Suthamphan for agencies under the Ministry of Commerce to closely monitor the unrest in the Middle East and safeguard domestic price stability.
Mr Witthayakorn said the department has stepped up proactive measures to stabilise prices of goods and services and to protect the cost of living from potential external shocks.
He noted that the department has been coordinating closely with the Ministry of Energy to monitor energy prices and had contacted major oil trading partners, including PTT, Bangchak Corporation and Susco.
“All have confirmed that they have not adjusted fuel prices,” Mr Witthayakorn said. “The Ministry of Energy continues to maintain oil price controls at present, so there is no energy cost factor that would justify producers or traders increasing the prices of goods and services.”
He emphasised that taking advantage of the situation by raising prices is strictly prohibited.
The department has also coordinated with manufacturers of key consumer goods, who have reported no cost impacts at this stage. Officials at both central and provincial levels have been instructed to urgently inspect the sale of goods and services nationwide, particularly items linked to energy and transportation costs.
The inspections are aimed at preventing businesses from citing international developments as grounds for unjustified price increases. Traders have also been ordered to clearly and accurately display prices in accordance with the law.
Under the Price Control Act 1999, opportunistic price hikes, hoarding of goods or any actions deemed unfair to consumers are punishable by up to seven years’ imprisonment, a fine of up to B140,000, or both.
“The public should not panic. There is still sufficient supply of consumer goods, and there are no factors at present that require price adjustments,” Mr Witthayakorn said, adding that the department stands ready to take decisive legal action against violators.
In Phuket, the Phuket Provincial Commerce Office reported no signs of panic buying of consumer goods, despite heightened public concern following a rush on fuel stations across the island yesterday..
Officials confirmed that essential products remain adequately stocked and that prices are stable. Inspections of retail outlets found businesses complying with price display regulations in line with the Central Committee on Prices of Goods and Services Announcement No. 68 of 2025, with price tags clearly shown as required by law.
Members of the public who encounter unreasonable price increases, failure to display price tags or suspected hoarding are urged to contact the Department of Internal Trade hotline at 1569 or report the matter to their local provincial commerce office for investigation and legal action.