The Thai government has reassured the public that the country remains energy secure despite rising global oil prices driven by tensions in the Middle East. Thailand currently has sufficient oil reserves to last for approximately 95 days, and authorities are continuing to secure additional supplies. Oil traders have also been instructed to increase their reserve levels from 1% to 3% to strengthen national energy security.
To ease the cost of living, the government will use the Oil Fuel Fund to cap diesel prices for 15 days while monitoring the situation. In addition, Thailand plans to diversify its energy sources by increasing LNG imports, utilizing domestically produced B100 biodiesel, and expanding electricity generation from renewable energy. The government is also urging the public to help conserve energy amid ongoing volatility in the global energy market.
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