Bangkok: Experts indicate that Thailand’s energy situation is not yet critical and believe the government can manage it.
According to Thai News Agency, political scientists suggest that although the global energy situation is strained due to tensions in the Middle East, Thailand is not yet experiencing an energy crisis. Assistant Professor Dr. Chetha Sap-yen, a lecturer in the Department of Urban Administration and Management, College of Metropolitan Development, Navamintrathirat Open University, commented on the country’s energy situation, emphasizing the importance of cautious management to prevent severe impacts on the population.
Associate Professor Dr. Chettha highlighted that the current challenges are a result of global tensions, with the Middle East being a significant contributor to the world’s energy supply. This has led to increased global oil prices, affecting many countries, not just Thailand. However, within the country, there are no indications of a severe energy shortage affecting transportation or the economy, although rising energy costs are beginning to impact certain groups, which the government needs to address.
The government’s approach includes utilizing various policy tools to stabilize domestic energy prices, preventing them from rising sharply in line with global trends. Recent measures include managing domestic oil stocks closely, utilizing the Fuel Fund to stabilize prices, delaying price adjustments with cooperation from oil businesses, and controlling certain oil exports to ensure sufficient domestic supply.
In anticipation of a prolonged situation, the government has other tools at its disposal, such as reducing fuel taxes, sourcing energy from alternative regions, increasing renewable energy usage, and managing energy reserves. These measures provide the government with flexibility in managing the situation.
Asst. Prof. Dr. Chetha noted that the government is actively managing the situation, using various strategies to stabilize the country amid global energy market volatility, while monitoring developments in the Middle East. There are signs that tensions in the Middle East may ease, such as Iran allowing Chinese ships to pass through the Strait of Hormuz, a crucial global energy route, which could gradually normalize energy transportation and reduce global oil market tensions.
Political scientists also point out that oil-producing countries in the Middle East are likely motivated to stabilize the situation to protect their market share, as prolonged tensions could lead energy-consuming countries to seek alternative oil sources. This competition could drive efforts to maintain stable international energy routes.
Asst. Prof. Dr. Chetha concluded by emphasizing that effective government management is key to mitigating economic impacts and maintaining stability during this period of global energy volatility. The government continues to implement measures to monitor the situation closely and ensure the country’s resilience.