Bangkok: The Prime Minister has announced a comprehensive plan to address potential energy challenges arising from the escalating situation between Israel and Iran. The government aims to implement measures that utilize the energy fund and adjust excise taxes to stabilize energy prices and mitigate impacts on citizens.

According to Thai News Agency, Ms. Paethongtarn Shinawatra, the Prime Minister, shared insights from a high-level meeting convened to monitor ongoing unrest in Israel and Iran. The meeting, attended by the Deputy Prime Minister and Minister of Finance, the Deputy Prime Minister and Minister of Energy, and the Minister of Foreign Affairs, focused on multi-dimensional preparations to safeguard the nation’s energy reserves.

Ms. Shinawatra emphasized the government’s proactive approach, assuring citizens that they are not indifferent to the potential instability in energy reserves. She highlighted that the country currently possesses a 60-day oil reserve and is exploring additional measures to ensure long-term energy security.

In response to potential fluctuations in energy prices, the Prime Minister has tasked the Ministry of Finance and the Ministry of Energy with considering the use of the Energy Fund and adjusting excise taxes to maintain energy prices at sustainable levels. The government also plans to implement strategies for procuring natural gas to regulate both the price and volume, alongside fostering international cooperation to bolster energy security within the ASEAN region.

The Prime Minister underscored the necessity of systematic energy management amidst global uncertainties, aiming to ensure long-term stability, safety, and public confidence in the nation’s energy strategy.