Small firms take issue with ongoing local fuel turmoilThe Federation of Thai SME Association is concerned about the energy crisis, saying a prolonged shock could force many small and medium-sized enterprises (SMEs) to gradually shut down. Noppong Teeravorn, the federation's president, warned if crude oil prices rise to US$100 per barrel or higher, production costs for SMEs could increase by 20-30%. A recent meeting of micro and SME entrepreneurs nationwide reflected a shared concern over a potential oil crisis, which could drive prices higher, with supply becoming insufficient to meet business demand. Many entrepreneurs are unable to secure enough fuel for transport, forcing them to consolidate orders before shipping, resulting in delivery delays. Mr Ekniti instructed relevant agencies to prepare measures to cope with volatility in global oil prices, including potential reductions in fuel excise taxes and the issuance of an emergency decree to borrow funds for the Oil Fuel Fund should the fund's resources used to stabilise oil prices approach their limit.

Source: Bangkok Post March 20, 2026 10:24 UTC