1. Energy minister ordered coal & hydro power plants to run at full capacity to safeguard energy supply, suspended oil exports to preserve national energy security, plans to boost natural gas output from the Gulf of Thailand and defer maintenance at key fields. 7.66bn litres of crude and refined oil inventories as of Mar 1, equivalent to 60 days of consumption, are sufficient for domestic demand. Authorities may use the state oil fund to cushion domestic prices if crude rallies persist.
2. S&P Global Thai Feb Manufacturing PMI rose to 53.5 from 52.7 in Jan, with new orders increasing versus the prior month.
3. BoT: Thailand signaled it is unlikely to cut its key interest rate again, noting that the surprise reduction on Feb 25 was well-timed to help the economy manage Middle East-related risks.
4. Iranian war impacts – Arrivals from the Middle East exp -10% this yr, or roughly 70-80k tourists, from 700k in 2025 (4% of total tourist arrivals in 2025) – chairman of the Federation of Thai Industries.
5. Tourism / Aviation: (Bloomberg) Surging jet fuel prices are raising the risk of higher airfares across Asia. Singapore jet fuel prices have more than doubled since Feb 27 to around US$221/bbl as of Mar 4, while European jet fuel prices have risen about 53% over the same period.
6. Energy Policy: For 15 days starting Mar 4, diesel prices at service stations nationwide will be capped at THB29.94/litre. The measure includes increasing diesel compensation by THB2.77/litre and reducing Oil Fuel Fund contributions for petrol products by THB0.38–0.70/litre, keeping retail fuel prices unchanged during the period.
7. Energy Security: The government plans to increase mandatory oil reserve requirements for traders to 3% of trading volume from 1% as part of efforts to strengthen energy security amid Middle East tensions. Thailand currently has about 95 days of oil reserves, including incoming supply through April. Authorities are also looking to increase electricity imports from Laos, boost gas output from the Malaysia–Thailand Joint Development Area, and raise coal-fired generation, while PTT is seeking additional crude supplies from the US, Saudi Arabia and Malaysia, with new LNG procurement expected to be confirmed next week.
8. Politics: The Election Commission is expected to certify the remaining party-list MPs today. If the total number of certified MPs exceeds 95% (or 475 MPs), the House will be convened within 15 days to vote for the Speaker and the Prime Minister.
9. NESDC: Thailand’s GDP could slow to 1.3%–1.6%, versus the 2% baseline estimate, if escalating conflict in the Middle East keeps global oil prices elevated.
10. Energy Security Measures: Thailand plans to suspend fuel exports to ensure sufficient domestic supply amid concerns that a widening Middle East conflict could disrupt crude imports. Thailand imports almost all of its crude oil.

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