Bangkok: The Ministry of Justice, working in collaboration with four key ministries, has uncovered a scheme to delay and hoard fuel, which significantly contributed to fuel shortages during a recent crisis.
According to Thai News Agency, the revelation was made during a press conference chaired by Pol. Gen. Ruddhaphol Naowarat, the Minister of Justice, as per the instructions of Prime Minister Anutin Charnvirakul. The conference also featured Mr. Ekanat Promphan, Minister of Energy, and representatives from the Department of Energy Business, the Department of Internal Trade, the Excise Department, and the Department of Special Investigation. The officials addressed the investigation into oil traders accused of delaying sales, hoarding oil, and speculating on rising prices, which exacerbated an oil shortage crisis in March 2026 amidst Middle Eastern conflicts.
Police General Kittirat Phanphet, head of the task force initiated by the Prime Minister's order, directed a thorough investigation into the matter due to its impact on the public. He assigned Police General Thatchai Pitanilabutr to collaborate with relevant departments to probe the situation. The investigation revealed that despite adequate reserves, certain Section 7 fuel retailers refrained from supplying fuel during the closure of the Strait of Hormuz from March 20-25, 2026, resulting in a shortage at gas stations. This contributed to a disappearance of over 29.2 million liters of diesel fuel, constituting 20.2%.
Further findings indicated that Section 7 oil traders were stockpiling oil during shipping and road transport to capitalize on price fluctuations. Large oil tankers delayed delivery 23 times, amassing 50.8 million liters of oil. Additionally, road transport trips without specified destinations delayed delivery, accumulating 2.1 million liters. These actions suggest oil stockpiling in trucks or other storage facilities at gas stations, prompting further investigation.
Police Lieutenant General Ruttapol Naowarat highlighted that these actions by oil retailers distort market mechanisms, causing severe public hardship. Legal complaints are being filed against those involved under Section 30 of the Price Control and Services Act B.E. 2542 (1999) and the Fuel Oil Trading Act B.E. 2543 (2000), with penalties including imprisonment and fines. Prime Minister Anutin Charnvirakul has mandated decisive legal action against all culprits.