Thailand's prime minister slammed recently oil traders for "excessive profiteering", blaming those stockpiling fuel or smuggling it abroad for shortages that have driven prices steadily higher.
"Authorities have found cases of fuel stockpiling and smuggling for sale in neighboring countries," Prime Minister Anutin Charnvirakul said, adding the problem had cost the government 50 billion baht ($1.4 billion).
"This action (smuggling and stockpiling) amounts to excessive profiteering from rising oil prices during the global energy crisis," he said, calling it "a major factor behind the nationwide fuel shortages seen in recent weeks".
Evidence of hoarding and profiteering among large and medium-sized oil traders had been found on land and at sea, he said.
