Thailand Has 108 Days of Oil Reserves Amid Price Volatility
Thailand maintains 108 days of oil reserves as the government cuts diesel prices by 2.40 baht per liter to shield consumers from global price volatility fueled by Middle East tensions.
Deputy Permanent Secretary Veeraphat Kiarttifuengfoo said the Energy Ministry is closely monitoring global oil prices, which continue to fluctuate due to economic and geopolitical factors affecting worldwide energy supply.
Thailand has taken precautions since Middle East unrest emerged, diversifying crude oil sources to include the United States and Argentina while increasing import volumes. As of July 23, 2025, Thailand's combined oil reserves—including commercial stock (2.353 billion liters), strategic reserves (3.385 billion liters), crude in transit (4.299 billion liters), and confirmed supply pending delivery (3.280 billion liters)—total 13.3 billion liters, providing 108 days of coverage. Current consumption averages 57.26 million liters of diesel and 30.36 million liters of petrol daily.
The government has ordered strict management to ensure fuel supplies meet public and business demand without shortage across all scenarios. On July 23, 2025, the Energy Policy Committee approved a refinery-gate price cut of 2.40 baht per liter for diesel effective July 24 to August 15, 2025. The Oil Fund, currently carrying a deficit of 63.921 billion baht, remains adequately liquid to manage prices at appropriate levels. Deputy Secretary Veeraphat stressed that the ministry will employ multiple measures—refinery-gate price reductions, the Oil Fund mechanism, and other necessary actions—to stabilize retail prices and minimize the impact on citizens' cost of living while continuously assessing global market conditions daily.
