Oil smugglers, hoarders in Thailand worsen supply crisis as Anutin warns of tough times
Police are investigating alleged oil hoarding in southern Thailand and reselling to nearby countries, citing ‘abnormal’ vessel movements
As diesel pump prices hit an all-time high of around 50 baht (US$1.54) a litre on Monday, Justice Minister Major-General Rutthaphon Naowarat told reporters that “oil has definitely gone missing”, saying it was too early to determine “whether it’s 57 or 58 million litres”.
Since the crisis began at the end of February, Anutin has been at pains to say Thailand holds about three months of fuel supplies to ride out the emergency.
But within days of Tehran’s closure of the Strait of Hormuz, reports snowballed in Thailand of petrol stations running short or rationing fuel, raising questions about the missing oil, given Thailand’s apparent surplus.
Now, the southern province of Surat Thani is the epicentre of a police probe into purported oil hoarding.