Prime Minister Anutin Charnvirakul issued an executive order today suspending the export of finished petroleum products — specifically benzine, gasohol, high-speed diesel, jet fuel and liquefied petroleum gas (LPG) — with immediate effect, to address uncertainties engendered by the war in the Middle East.
The order will not, however, apply to finished petroleum products exported to Laos or Myanmar.
It also will not apply to fuel oil imported into the country for re-export and stored in bonded facilities or tax-free zones, or to oil that does not meet the quality or characteristics specified in the announcement of the Department of Energy Business and therefore cannot be sold on the domestic market.
The prime minister’s order mandates that oil traders maintain reserves of locally produced finished petroleum products at 1.5 percent by March 31 and at 3 percent by April 30.
If oil traders are unable to maintain the required reserves, or if doing so would cause excessive damage to them, the director-general of the Department of Energy Business, with the consent of the energy minister, may order the reserve requirement to be reduced or temporarily ease the burden on oil traders for a period deemed appropriate.
