Bangkok: The Commerce Ministry is taking decisive steps to monitor and control commodity prices in response to the ongoing unrest in the Middle East. Notably, oil retailers in the region have not adjusted prices, a situation the Ministry is closely observing to ensure stability in domestic markets.
According to Thai News Agency, the Department of Internal Trade has implemented stringent measures to prevent businesses from exploiting the current geopolitical situation by unjustifiably raising prices. The department confirmed that the four major oil retailers have maintained stable prices, with the Ministry of Energy's price controls ensuring no energy cost pressures on domestic commodities.
Mr. Wittayakorn Maneenet, Director-General of the Department of Internal Trade, stated that Ms. Supajee Suthamphan, Minister of Commerce, has directed all related agencies to vigilantly monitor the situation and safeguard the public from potential price surges. The department is proactively working to stabilize prices and shield the domestic economy from external disruptions.
The Department of Internal Trade is collaborating with the Ministry of Energy and key oil retailers such as PTT, PT, Bangchak, and Susco. These entities have confirmed the absence of fuel price hikes, and current energy price-fixing measures are in place to prevent any ripple effects on goods and service prices.
Efforts have also been made to engage consumer goods manufacturers, who have not reported cost increases. Nationwide, commerce officials are conducting inspections to ensure that products, particularly those related to energy and transportation, are sold at fair prices.
Businesses are required to display prices accurately and comprehensively, as per legal standards. Any breach of the Price Control Act B.E. 2542 (1999) could result in severe penalties, including imprisonment, fines, or both, for unjustified price increases.
The Director-General reassured the public of ample consumer goods supply and urged calm, emphasizing that no current factors necessitate price hikes. The department remains vigilant and ready to enforce legal measures against any opportunistic practices.
The public is encouraged to report any incidents of price gouging, lack of price displays, or hoarding to the Department of Internal Trade hotline at 1569 or through provincial commerce offices. Prompt investigations and legal actions will follow reported violations.