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Phuket fuel rush amid fears of price hikes, shortages

Phuket fuel rush amid fears of price hikes, shortages

PHUKET: Residents across Phuket rushed to fill their tanks yesterday (Mar 3) after the Prime Minister revealed that Thailand’s oil reserves would last about 60 days if no new supplies were secured, sparking fears of potential shortages amid escalating tensions in the Middle East.

economics
By The Phuket News

Wednesday 4 March 2026 10:50 AM


 

Long queues were reported at petrol stations throughout the province from early morning, with some lines stretching beyond station forecourts and onto nearby roads. In addition to cars and motorcycles, some people were seen bringing containers to store fuel, reflecting growing public concern over the country’s energy security.

The surge in demand followed confirmation from the Ministry of Energy that Thailand currently holds around 7,660 million litres of fuel reserves – including legally mandated stockpiles and crude oil in transit – sufficient for approximately 60 days in the event that no additional imports can be obtained.

The announcement came after Iran declared the complete closure of the Strait of Hormuz, a key global oil shipping route, raising fears of supply disruptions worldwide.

Price rises and temporary shortages

During an urgent field inspection yesterday (Mar 3), Phuket Provincial Commerce Office Chief Waranit Apiratjirawong found that Caltex Ngan Thavee Service Branch 2 in Phuket Town had run out of Gasohol 95. The shortage was attributed to an unusually high number of motorists rushing to refuel, combined with a temporary suspension of fuel truck deliveries over the holiday period.

Fuel price adjustments were also announced yesterday.

Shell increased the price of Gasohol and E20 by B1.50 per litre and diesel by B4.20 per litre. Caltex raised Gasohol and E20 prices by B0.90 and diesel by B1.80 per litre. Other operators maintained existing prices.

Government urges calm

In a series of posts late last night, the Ministry of Energy urged the public not to hoard fuel, stressing that domestic supplies remain adequate.

The ministry confirmed that Thailand imports only a portion of its crude oil from the Middle East and does not rely exclusively on the region. Efforts are being accelerated to secure additional imports from the United States, West Africa and Malaysia.

Officials emphasised that the 60-day reserve figure is a projection based on a worst-case scenario in which no new shipments arrive. In reality, oil procurement continues, although domestic prices may rise in line with global market trends.

The ministry warned that hoarding fuel in large quantities is illegal and potentially dangerous due to improper storage.

Deputy Permanent Secretary and Energy Ministry spokesperson Mr Veerapat Kiattifuengfu said the Department of Energy Business had convened an urgent meeting with oil traders to ensure continued supply and to diversify sourcing away from the Middle East.

He added that the Fuel Oil Fund mechanism would be used to help manage price volatility and ease the burden on consumers.

Diesel price freeze ordered

Prime Minister and Interior Minister Anutin Charnvirakul yesterday ordered that the retail price of diesel be frozen at B29.94 per litre for 15 days, effective immediately.

All PTT service stations nationwide will sell diesel at the capped price during this period. After 15 days, the government will review the situation and consider further measures to assist the public.

The Energy Ministry also addressed reports of oil exports to Laos and neighbouring countries, clarifying that current shipments are part of pre-existing contracts. Officials noted that Thailand maintains strong energy cooperation with Laos, including both oil exports and electricity imports.

However, the ministry stated that if the situation escalates to a critical level, the Department of Energy Business is prepared to impose conditions or suspend exports in order to safeguard national energy security, while taking into account regional energy relationships.

Situation under close watch

As of yesterday evening, there had been no announcement of restrictions on fuel sales in Phuket or elsewhere in Thailand.

Officials from multiple agencies said they are closely monitoring the situation and urged the public to rely on official sources for updates to avoid confusion and unnecessary panic.

“The Ministry of Energy is confident that domestic reserves are sufficient to meet demand,” Mr Veerapat said. “We ask the public not to panic or hoard fuel, and to use energy wisely to help strengthen the country’s energy security.”

For now, while fuel remains available across Phuket, the long queues at petrol stations serve as a visible sign of public unease as global tensions continue to ripple through local markets.