The committee on establishing oil and gas reserves for strategic security and fuel price stabilization recently convened to consider draft guidelines aimed at ensuring Thailand’s energy security and price stability.
Pirapan Salirathavibhaga, Deputy Prime Minister and Minister of Energy, stated that the meeting addressed the issue of brokerage fees from crude oil transactions to refineries in Thailand. Minister Pirapan highlighted that progress is being made in drafting legislation to set guidelines preventing fuel traders from including brokerage fees and indirect expenses as part of oil costs, which ultimately burden consumers.
The Minister expressed concerns over the current cost structure, noting that unnecessary expenses are often added to the actual cost of oil, inflating the final price and obscuring the true cost. This situation persists due to the absence of specific regulations, leading to an unfair burden on the public.
The meeting also reviewed information related to fuel from countries such as Russia and Laos, as well as the energy laws of ASEAN member states.
Previously, the committee examined various global practices in fuel reserves, including storage methods, oil sources, infrastructure, funding, management, and regulatory bodies, to draft guidelines for Thailand’s strategic fuel reserves.
The goal is to maintain overall fuel reserves for at least 90 days. Currently, Thailand’s legal fuel reserves held by the private sector cover only 25 days. (NNT)
