Prime Minister Anutin Charnvirakul on Friday revealed evidence of widespread oil hoarding and market manipulation, pledging swift legal action and ordering a special investigation to expand the probe to those involved.
Speaking after a high-level meeting with energy and security agencies, Mr Anutin said authorities had uncovered multiple tactics used to exploit consumers amid the ongoing global energy crunch. These included deliberate delays in marine transport, refusals by some depots to release fuel to service stations, and irregular diversion of fuel shipments.
He said the Department of Special Investigation (DSI) would be asked to take up the case as a special investigation to fast-track legal proceedings and identify all parties linked to the schemes.
Representatives from key agencies attended the briefing, including the Ministry of Justice, the Royal Thai Police, the Department of Energy Business, the Thai Maritime Enforcement Command Centre, the Marine Department, the Customs Department and the Excise Department, in an effort to coordinate action against hoarding and price gouging.
According to Mr Anutin, investigators identified three main patterns of misconduct. Oil tankers were found idling offshore to delay deliveries and wait for retail price increases. Some storage facilities withheld supplies from petrol stations and distributors. In other cases, fuel was transported off designated routes, raising suspicions of stockpiling or irregular redistribution.
Authorities also detected discrepancies in reported fuel volumes among regulatory agencies. Data from maritime tracking systems will be cross-checked against records from the Department of Energy Business and excise tax data to trace transport routes by land and sea, including possible exports to neighbouring countries.
Mr Anutin said such practices amounted to profiteering and are forcing the government to rely heavily on the Oil Fuel Fund to stabilise prices. The fund is currently running a deficit of more than 50 billion baht, with diesel subsidies averaging about 17 baht per litre.
“The money the state uses to stabilise oil prices is meant to help the public, not to be exploited through hoarding or smuggling for profit,” the prime minister said.
He asserted that “Those who break the law — no matter who they are or how influential — will face decisive legal action.”
