Thailand: Thailand's energy ministry on Wednesday called for an end to panic-buying at gas stations, assuring the public that national fuel reserves remain stable despite escalating tensions in the Middle East.

According to Thai News Agency, Energy Minister Auttapol Rerkpiboon confirmed that while global crude prices are volatile, Thailand holds sufficient stock. He warned that "hoarding" behavior is creating logistical bottlenecks, as supply trucks cannot keep pace with the sudden spike in localized demand.

The rush began after analysts warned oil could hit $100 per barrel. Panic intensified as private retailers Shell and Caltex briefly hiked diesel prices before reversing the move this morning.

In response to the growing panic, the Thai government has implemented several urgent measures to stabilize the market. Diesel prices have been capped at 29.94 baht per liter for at least 15 days, supported by the Oil Fuel Fund which increased its diesel subsidy by 2.77 baht per liter.

To ensure fair distribution and prevent hoarding, major retailers including state-owned PTT Oil and Retail Business (PTTOR) have introduced strict purchase restrictions. Fuel stations are currently prohibited from filling into gallons or any other containers, limiting sales exclusively to vehicle tanks until the supply chain stabilizes.

Government deputy spokesperson Airin Phunrit warned businesses against price gouging or illegal stockpiling. Under Thai law, offenders face up to seven years in prison or fines of 140,000 baht.