The government has indicated that it does not plan to increase fuel prices further, even as global markets remain volatile due to the ongoing conflict involving Iran, Israel and the United States.
Finance Minister Moosa Zameer said current fuel supplies are sufficient in the short term, with a recent shipment expected to meet demand until mid-April. Additional consignments of petrol and diesel are also scheduled to arrive from Singapore and Oman early next month, which officials say will help maintain supply stability.
The remarks were made during a press briefing by a ministerial committee established to assess the impact of the Middle East conflict on the Maldives. Zameer said the government continues to monitor developments closely, while working to manage risks and ensure continuity in essential services.
He noted that fuel imports are not handled solely by the State Trading Organisation, pointing out the presence of private sector operators in the market. According to him, the government is seeking to navigate the current situation without causing significant disruption to these businesses.
Officials maintain that national reserves remain stable and that key services are continuing without interruption. Financial support for Maldivian students abroad is also being provided as usual, despite external pressures on supply chains and prices.
The government is also considering the establishment of a national fuel reserve as part of longer-term planning, following discussions among ministers.
Global fuel markets have experienced disruptions since the escalation of the conflict in February, with price increases reported in many countries. In the Maldives, retail fuel prices have already risen following adjustments by Fuel Supplies Maldives, a subsidiary of STO, with increases ranging between 18% and 26% in recent weeks.
STO has stated that there is no current shortage of imported fuel and confirmed that further shipments are already en route.
