MIFCO to Maintain Oil Prices For Fishermen Amid Global Price Fluctuations
Maldives industrial fisheries company maintains fishermen oil price | Photo: MIFCO
The Maldives Industrial Fisheries Company (MIFCO) has decided to maintain the price of oil sold to fishermen.
The State Trading Organization (STO) adjusted the price of oil sold to businesses following sharp fluctuations in global oil markets caused by the ongoing war in the Middle East.
Despite this, MIFCO confirmed that the price of oil supplied to fishermen will remain unchanged. Under the government’s Green Energy Programme, subsidised oil will continue to be provided to fishing vessels.
With this change, the prices announced by MIFCO on 5 March 2026 will remain in effect. Fishing vessels will continue to receive diesel at MVR 16.54 per litre. Purchases exceeding three tonnes will also be supplied at MVR 16.54 per litre. In addition, diesel sales at the standard rate of MVR 17.54 per litre will continue as before.
