BANGKOK, THAILAND – The government ordered sweeping controls on consumer and fuel prices in response to unrest in the Middle East, warning against unjustified price increases, panic buying and hoarding.
Stricter retail price controls
The Ministry of Commerce instructed the Department of Internal Trade to intensify nationwide checks on consumer prices to limit the impact of international tensions on living costs. Inspection teams were deployed across the country, and retailers were warned not to impose unjustified markups and to display price tags clearly and visibly.
Severe penalties and legal basis
The director‑general of the Department of Internal Trade, Wittayakorn Maneenet, said businesses had to strictly follow the Act on Prices of Goods and Services B.E. 2542 (1999) and must not exploit the situation.
“Anyone who raises prices without an objective basis, hoards goods or otherwise creates unfairness for consumers will face immediate legal action, including up to seven years in prison and/or a fine of up to 140,000 baht.”
said Wittayakorn, director‑general of the Department of Internal Trade.
Monitoring Middle East tensions and energy prices
On 3 March 2026, Wittayakorn reported that Commerce Minister Suphajee Suthumpun had instructed all subordinate agencies to closely monitor unrest in the Middle East and to take measures to shield domestic prices and living costs from external shocks. The Department of Internal Trade responded with proactive steps, coordinating closely with the Energy Ministry and working with oil companies PTT, PT, Bangchak and Susco, which had not reported any fuel price increases so far.
No cost pressure yet, but tight inspections
According to the Department of Internal Trade, several manufacturers of consumer goods were consulted on short notice, with no noticeable impact on production costs reported so far. At the same time, central units and provincial commerce offices were ordered to carry out intensive on‑site checks, especially for goods and services whose prices are linked to energy and transport costs.
Message to consumers and complaint channels
Authorities urged the public not to panic, saying consumer goods were sufficiently available and there was currently no objective reason for price increases.
“Anyone who observes implausible price surcharges, missing price displays or possible hoarding can report this via the 1569 hotline or at provincial commerce offices so that inspections can be initiated immediately.”
said the Department of Internal Trade.
Energy supplies and Strait of Hormuz closure
The Energy Ministry stressed that fuel reserves in the country were adequate and said it was preparing to deploy the oil price fund to cushion possible price spikes. On 3 March 2026, deputy secretary‑general and ministry spokesperson Veerapat Kiatfuengfoo said a crisis meeting with oil trading companies had been convened after Iran announced the closure of the Strait of Hormuz, in order to secure procurement and supply chains.
60 days of reserves and alternative supply sources
According to the ministry, Thailand held 4.877 billion litres of refined products and 2.783 billion litres of crude oil in the supply chain as of 1 March 2026, a total of 7.660 billion litres, equivalent to about 60 days of demand without additional procurement. At the same time, the ministry said supplies could continue from regions outside the Middle East, such as the United States, West Africa and Malaysia, although prices were expected to rise in line with global markets.
Exports to neighbouring countries under review
Reports of fuel exports to Laos and other neighbouring countries were answered with the clarification that these were earlier delivery contracts forming part of close energy cooperation. The Energy Ministry also emphasised tighter controls to prevent re‑exports to third countries and announced that, if the situation persisted or escalated, export restrictions would be considered to protect domestic energy security.
Warning against fuel hoarding
The ministry strongly appealed to the public not to hoard fuel and warned that storing large quantities could be dangerous and might in some cases be illegal. It reiterated that domestic reserves were sufficient, that ongoing procurement outside the Middle East was continuing and that the oil price fund was ready to ease the burden on citizens if needed.
PTT and Bangchak keep pump prices stable
The PTT Group said it would not raise retail prices for refined fuels for the time being, even though escalating tensions in the Middle East were pushing up international crude and product prices. PTT and Bangchak said they were monitoring the situation together with authorities, maintaining current prices to ease pressure on the public, and called on people not to panic despite continuing international uncertainty.