(Photo: Somchai Poomlard)Amid spikes in global crude oil and gas prices, the government has deployed several measures including price caps to ensure energy security and ease the cost of living. The daily oil price subsidy of at least 1 billion baht is "unsustainable", noted Globlex. Meanwhile, the International Energy Agency approved a 400-million-bpd strategic reserve release, including 172 million bpd from the US to be released over 120 days. In total, the strait handles 5.5-6 million bpd of petroleum products, including 1.5 million bpd of liquefied petroleum gas (LPG), 1.2 million bpd of naphtha, 2-2.5 million bpd of middle distillates including jet fuel and diesel, and 0.8-1 million bpd of fuel oil and other refined products. Measures will differ, but could include oil price caps, tax rebates, and direct support to households and energy-intensive sectors.

Source: Bangkok Post March 22, 2026 23:18 UTC