Transport Ministry to ban fare hikes for taxis, riders and motorcycle taxis from March 5
Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn said the Transport Ministry will ban fare increases for taxis, ride-hailing riders and motorcycle taxi services from March 5, warning of legal action against profiteering. He added the government can keep transport costs capped for as long as the Prime Minister maintains the fuel price freeze, with the Oil Fund used as a buffer if crude prices stay high.
Fare hike ban for taxis, riders and motorcycle taxis from March 5
Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn said the Transport Ministry will issue an announcement on Thursday (March 5) banning fare increases for public transport services, including taxis, ride-hailing riders, and motorcycle taxi services. He warned that any operators attempting to exploit the situation would face legal action.
Oil Fund to backstop transport costs as crude prices rise
Speaking on Wednesdasy (March 4), Phiphat Ratchakitprakarn, Deputy Prime Minister and Minister of Transport, said the government can keep transport costs capped for as long as the Prime Minister decides to maintain the fuel price freeze, with the Oil Fund available as a buffer.
He said that in abnormal circumstances—such as the current surge in crude oil prices—the government can use Oil Fund resources to prevent domestic prices from rising in line with global markets. He noted that the Oil Fund balance has fluctuated in the past, at one point running a deficit of up to 100 billion baht, but is currently in surplus.
Prime Minister’s instructions to be tabled at Middle East situation meeting
Phiphat spoke after meeting the Prime Minister at Thai Khu Fah Building for almost an hour. He said he would take the Prime Minister’s instructions—particularly on capping transport costs—to the government’s second meeting of 2026 assessing the Middle East conflict situation.
The meeting is chaired by Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, and will discuss transport costs. Phiphat added that the Ministry of Transport will also hold its own meeting on March 5.
‘No need to worry’ beyond 15-day freeze, he says
Asked whether guidance had been given beyond the 15-day fuel price freeze, Phiphat said it depends on the Prime Minister’s policy and how the situation develops once the 15 days have elapsed. If the situation continues, he said the government can extend the cap, with the Oil Fund supporting the policy.
He said the public should not worry about fuel prices rising after the 15-day period, insisting the Oil Fund would backstop the government’s approach.
