Story perspectives

Thai PM Blames Oil Traders for Shortages, 50 Billion Baht Losses

4/7/2026

Summary

Story summary

Thai Prime Minister Anutin Charnvirakul condemned oil traders for excessive profiteering and attributed shortages to hoarding and smuggling.
Anutin said the government has incurred 50 billion baht in losses.
Investigations by the Department of Special Investigation (DSI) are underway into delayed shipments.
The Oil Fuel Fund is currently in deficit, and the government relies on it to stabilize prices.

History

Historical Context

The 2011 oil crisis in Thailand, marked by rising global oil prices, prompted the government to allocate 30 billion baht for fuel price stabilization. This crisis echoes historical struggles against profiteering, particularly during the 1997 Asian financial crisis, which led to significant economic reforms. Today, Prime Minister Anutin Charnvirakul's condemnation of oil traders highlights ongoing vulnerabilities in Thailand's energy sector and the persistent challenges of maintaining price stability.

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Story summary

Thai Prime Minister Anutin Charnvirakul condemned oil traders for excessive profiteering and attributed shortages to hoarding and smuggling.
Anutin said the government has incurred 50 billion baht in losses.
Investigations by the Department of Special Investigation (DSI) are underway into delayed shipments.
The Oil Fuel Fund is currently in deficit, and the government relies on it to stabilize prices.

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