Crackdown on 52 Million Liter Oil Hoarding Ring – Fast-Track Cases on Ang Thong Oil Storage Facility with 3 Billion Baht in Suspicious Funds
Thai authorities are prosecuting oil traders accused of hoarding 52 million liters of fuel during a March 2025 Middle East crisis, deliberately withholding supplies to inflate prices and profit from shortages.
Officials are prosecuting an oil hoarding operation involving 52 million liters of fuel, profiteering during the Strait of Hormuz closure. On May 18, 2025, at the National Police Office, Justice Minister Rutthapol Nao-uerawat, along with Energy Minister Eak-nart Prom-phanthoop, Deputy Police Commissioner Thatchai Pitaneelabutr, and DSI Director Yuthana Praidamm, announced results of investigations and prosecution against Section 7 oil traders with their own gas stations. The investigation found that these traders deliberately delayed fuel sales to hoard oil and profit from continuously rising prices, causing a severe fuel shortage crisis in March 2025 during Middle East conflicts.
The task force determined that fuel shortages, especially diesel, resulted from Section 7 oil traders deliberately withholding fuel from retail stations even though adequate supplies remained in storage during the March 20-25, 2025 Strait of Hormuz closure period. This caused significant hardship for the public. Diesel supplies disappeared from the system at approximately 29.2 million liters, representing 20.2% of total inventory.
Section 7 oil traders also hoarded fuel in maritime and road transport using deliberate delays to ensure fuel arrived at storage facilities when they could maximize profits from oil price speculation. Officials discovered 23 large tanker shipments (2-5 million liters each; normally 2 trips) deliberately delayed with 50.8 million liters of fuel aboard, and 662 unmarked truck trips carrying 2.1 million liters, believed to involve hoarding fuel on vehicles or in alternative storage facilities.
Justice Minister Rutthapol stated these Section 7 oil traders distorted market mechanisms through deliberate fuel hoarding in storage and transport by sea and road to profit at others' expense, lacking governance and showing disregard for public suffering and law.
Charges will include "delaying fuel sales under Section 30 of the 2542 BE Price of Goods and Services Act, carrying penalties of up to 7 years imprisonment or 140,000 baht fine or both" and "transport documentation not conforming to regulations under Section 30 of the 2543 BE Oil Trading Act, carrying penalties of up to 1 year imprisonment or 100,000 baht fine or both."
Prime Minister Anutin Charnvirakul has directed decisive prosecution against all involved parties without exception. Deputy Police Commissioner Thatchai noted the investigation found irregularities throughout the fuel distribution system including hoarding in storage facilities, maritime transport delays, and land transport delays intended to profit during the crisis affecting Thailand's oil infrastructure.
