The Maldives Industrial Fisheries Company (MIFCO) has decided to maintain fuel prices for fishermen, ensuring continued access to subsidized diesel despite recent global price fluctuations.

The decision follows adjustments by the State Trading Organization (STO) to fuel prices for commercial customers, driven by volatility in international oil markets linked to ongoing geopolitical tensions in the Middle East. Subsequent to STO’s revision, changes to diesel prices at MIFCO’s fish purchasing centers and for fishing vessels were initially announced.

However, following a government review, arrangements have been made to sustain subsidized fuel rates for fishermen under the “Fahi Hakatha” programme. As a result, MIFCO will continue supplying diesel to fishermen at existing prices.

Under the current pricing structure, effective from 5 March 2026, fishing vessels delivering catch to MIFCO will receive diesel at MVR 16.54 per litre. Bulk purchases exceeding three tonnes will be priced at MVR 16.04 per litre. Diesel sold to the general public will remain at MVR 17.54 per litre.

This adjustment forms part of the government’s efforts to ease the financial burden on fishermen and provide support amid the ongoing challenges resulting from the Middle East crisis.