The Energy Ministry reports that Thailand’s oil reserves are currently sufficient for 110 days.
Daily diesel production has been averaging 83.2 million litres, with consumption ataround 64.7 million litres per day.
The ministry said total oil reserves consist of 25 days of legally mandated reserves, 23 days held as commercial reserves by oil traders, 31 days of crude currently in transit and 31 days of confirmed procurement.
While Thailand maintains a 110-day buffer, as of April 10, the fund is in deficit to the tune of 59.447 billion baht, largely due to the massive subsidy on diesel, which is currently costing it approximately 1.22 billion baht per day.
According to the ministry, Thailand is particularly vulnerable because the country, to date, imports 52% of its crude oil from the Middle East.
Thai fuel prices are benchmarked against the Dubai crude market, which reflects Asian demand and Middle Eastern supply, often diverging from the WTI (West Texas Intermediate) or Brent benchmarks seen in Western headlines.
Beyond the base price of oil, the conflict has also introduced significant hidden costs, including crude premiums, which reflect the higher expense of sourcing specific grades of oil, and war risk premiums, which have driven up insurance and shipping fees.
The ministry said it is currently auditing data from domestic refineries to inform adjustments to the price structure, ensuring that these real-world import costs are reflected while maintaining transparency for consumers.
Despite the geopolitical tension, the ministry maintains that Thailand’s energy security remains intact for the short term.
On April 9, the ministry also provided an update on the energy crisis, following a sudden reversal in global market trends. While a brief two-week ceasefire agreement between the U.S. and Iran initially sent prices tumbling, on hopes that the Strait of Hormuz would reopen, the situation has since taken a sharp turn for the worse.
The Islamic Revolutionary Guard Corps (IRGC) has officially announced a renewed suspension of maritime traffic through the vital chokepoint. Tehran claims that the move is a response to major Israeli strikes in Lebanon, which, they argue, violate the terms of the ceasefire.
As a result of the renewed restrictions, a stern warning has been issued to all vessels to halt movement immediately, with the IRGC stating that any violators risk being targeted.
This has led to a massive maritime gridlock, leaving between 800 and 2,000 tankers and cargo ships stranded across the Persian Gulf and the Sea of Oman.
Maritime passage remains severely limited, with only specific vessels, primarily those from China, granted permission to proceed or currently attempting to navigate alternative routes.
