Maldives Industrial Fisheries Company Ltd (MIFCO) has announced the decision to increase its diesel prices.
With the State Trading Organization (STO)’s recent decision to increase their fuel prices, MIFCO has also announced that they have increased the price of diesel sold to fishing vessels and the general public.
MIFCO has increased the diesel price sold to fishing vessels by MVR 3.05 to MVR 12.08 per liter. Meanwhile, the diesel price sold to the general public has been increased by MVR 1.07 to MVR 14.26 per liter.
The recent changes in domestic fuel prices are due to the increase in fuel prices in the global market. In the global market, a crude oil barrel now costs USD 88 compared to USD 77 earlier this year.
