Mifco spikes up diesel prices

Local fishermen out at sea | Photo: Rosie Magudia

Malé, Maldives – Amidst the spike in fuel in the global market, State Trading Organisation’s (STO) subsidiary MIFCO has increased the price at which the company sells diesel.

The state enterprise operating in the fisheries industry announced its revised prices of diesel, which effective Sunday, would be sold at a price of MVR 14.44 per litre for all sea vessels. Other parties would have to purchase the same for MVR 17.10.

Prior to this, MIFCO’s prices for sale of diesel was set at MVR 12.68 for sea vessels and MVR 15.00 for all other parties.

In light of the changes of fuel prices in the global market, STO’s prices for diesel are now at MVR14.80, and MVR 14.50 for petrol.