Minister of Finance and Planning Moosa Zameer has announced that, in addition to regular imports from Oman, a new fuel shipment has been loaded in Singapore and is expected to arrive in the Maldives early next month.
The announcement was made during a press conference held by a cabinet committee established by President Mohamed Muizzu to address economic challenges arising from the ongoing conflict in the Middle East. Minister Zameer stated that proactive measures are being taken to ensure a stable fuel supply and assured the public that current stocks are sufficient to meet daily demand.
According to the Minister, a vessel carrying both petrol and diesel from Singapore is scheduled to arrive in early April. This will be followed by another shipment from Sohar, Oman, expected around the 4th or 5th of April.
Despite global fuel prices doubling, the government has confirmed it has no plans to further increase domestic retail prices. Minister Zameer emphasized that raising costs would heavily burden the public and impact key industries. Consequently, the government will continue to subsidize fuel to maintain stability. Currently, the State Trading Organization (STO) maintains prices at MVR 16.01 per litre for petrol and MVR 17.54 per litre for diesel.
Minister of Economic Development and Trade Mohamed Saeed added that two additional fuel shipments were brought into the country last week under pre-arranged supply agreements.
Minister Zameer concluded by noting that the government is closely monitoring the geopolitical situation and is preparing for the next six months. Efforts remain focused on maintaining adequate reserves, ensuring uninterrupted essential services, and stabilizing the supply of staple goods.
