Thailand has already increased its crude oil reserves from 92 days to 98 days to strengthen national energy security he said. About half of Thailand’s crude oil imports currently come from the Persian Gulf and pass through the Strait of Hormuz, while the rest originates from sources elsewhere. Any purchases would likely be benchmarked against the global Brent crude price. Refineries must still bear additional costs, including crude oil premiums, shipping and insurance, which have risen significantly. Refineries cannot set crude purchase prices or retail fuel prices, both of which follow international market benchmarks.

Source: Bangkok Post March 14, 2026 14:37 UTC