Oil imports will be liberalized

The Thai Ministry of Energy will liberalize oil imports by allowing private companies to import finished oil products, to provide more options to consumers in the wake of high energy prices, according to Energy Minister.

He said that the responsibility of the Energy Ministry is to regulate the oil business, to ensure fair competition while enabling the public to have access to fuel oil at reasonable prices, adding that, if oil prices can be lowered, the cost of living will decrease accordingly.

He noted that imported finished oil products, such as petrol and diesel, do not have refining costs, which are difficult to control, and any private companies which have the storage facilities and are capable of the importation should be allowed to do so, instead of relying on the current oil suppliers. 

In 2020, Thailand exported finished oil products worth about 165 billion baht to neighbouring countries.