STO to supply fuel at previous rates for ferry operators
Speedboat and ferry service providers have been among those affected by the increase.
State Trading Organisation (STO) said on Monday night that arrangements are being made to allow speedboat and ferry service providers to obtain fuel at previous rates.
The announcement follows an increase in global oil prices, with crude oil rising above $100 per barrel amid the conflict in the Middle East.
The increase in global prices has raised the cost of importing fuel to the Maldives, leading STO to increase the prices at which it sells fuel to private businesses in the atolls.
Speedboat and ferry service providers have been among those affected by the increase. Several operators raised fares last week and implemented further increases on Monday.
According to available information, fares have increased in several atolls.
In B. Atoll, fares have increased to MVR 900 from MVR 600. In Lh. Atoll, fares have risen to MVR 850 from MVR 500.
In K. Atoll, fares have increased to between MVR 150 and MVR 200 from between MVR 70 and MVR 100.
In AA. Thoddoo and Rasdhoo, fares have risen to MVR 400 from MVR 250.
In ADh. Atoll, fares have increased to MVR 650 from MVR 400, while in M. Atoll fares have risen to MVR 1,200 from MVR 700.
In Th. Atoll, fares have increased to MVR 1,300 from MVR 800.
In its statement, STO said arrangements are being made for public ferry operators, transport service providers and island fuel sheds that purchase fuel from STO to receive petrol and diesel at previous rates.
STO also said fishermen will continue to receive fuel at subsidised rates under the “Fahi Hakatha” programme.
“These changes have been introduced to arrange for the availability of petrol and diesel in a manner that does not become a financial burden to the public,” STO said.
Finance Minister Moosa Zameer said last Thursday that the government would take steps to stabilise fuel prices in the Maldives.
He said fuel subsidies would be increased using part of STO’s projected profits.
