Maldives Industrial Fisheries Company (MIFCO) has increased the price of diesel sold to fishermen. The changes are a result of the fluctuation in global diesel prices, according to MIFCO.
This is the second time MIFCO has changed the price of diesel this year. Following price changes, a litre of diesel will be sold for USD0.93 for fishermen and a litre of diesel will cost USD1.11 for the general public.
State Trading Organisation (STO) has revealed the price of oil imported to the Maldives has increased. As such, Fuel Supply Maldives (FSM) will sell a litre of petrol for USD0.95 and a litre of diesel for USD0.96. as per the newly announced changes on March 5. STO attributed the changes in fuel prices to the significant fluctuations in global fuel prices due to the ongoing Russia-Ukraine conflict.
Currently, a brent crude barrel costs USD118 in the international market.