AS A prolonged closure of the Strait of Hormuz, lasting over eight weeks, is pushing the world toward an energy lockdown rather than just soaring prices, the Thai government should implement serious energy conservation measures before a forced shutdown occurs, which could be too late, PPTVHD36 quoted TISCO Economic Strategy Unit (TISCO ESU) as saying today (April 25).
Mr. Thanathat Srisawat, senior strategist at TISCO ESU, said Thailand risks facing a real energy shortage as oil reserves may run out in the next few months as resulted in the near-complete closure of the Strait of Hormuz, a vital global energy shipping route, and this closure is likely to last longer than anticipated.
The situation has recently escalated after Iran’s Islamic Revolutionary Guard Corps (IRGC) took full control of the shipping lanes and banned all ships from passing with their action showing military dominance over the Iranian government and increased economic pressure through the global energy crisis, creating leverage against the United States and the international community. This reduces the likelihood of a rapid resolution of the conflict, putting Thailand at risk of a serious energy shortage.
“Considering the lag time of 30-40 days for oil transport from the Middle East to Asia, this means that the last oil tankers that left the area before the conflict escalated arrived in Thailand and used up early to mid-April. Thailand is now forced to draw oil from reserves, which may only allow us to use oil normally for another 3-4 months before completely depleting them. That would result in immeasurable damage,” Thanathat said.
TISCO ESU advises the government to implement serious measures before it is too late. While oil consumption has begun to decrease in response to higher prices, particularly in the petrochemical and aviation industries, and many countries, including Thailand, have implemented energy-saving measures such as staff of government agencies working from home, these are only limited measures.
The overall decrease in demand is not yet sufficient to address the crisis.
“The only way to mitigate the severity of this crisis is for the government to implement serious and decisive measures to reduce fuel consumption quickly, in order to slow the decline in oil reserves and prevent them from nearing a critical point. This will create a competitive advantage and prepare the economy for a rapid recovery when the conflict ends.
“We believe that all governments agree that a deadlock lies ahead, but they are hesitant because they expect a truce to occur soon. However, if a decision is not made today, what should have been merely a ‘temporary delay to prepare’ could become a ‘forced standstill when it’s too late,’ which would cause far broader and more severe damage to the economy,” Thanathat said.
CAPTIONS:
Top – The US military said on Tuesday (April 21) it had boarded the oil tanker Tifani in the Indian Ocean as it had been sanctioned for smuggling Iranian crude oil. Photo: X/Department of War
Insert -Senior strategist at TISCO ESU Mr. Thanathat Srisawat. Photo – PPTVHD36
Front Page – An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Shinas, Oman on Mar. 11, 2026. File photo: Reuters/Benoit Tessier and published by CNA
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