Maldives Industrial Fisheries Company MIFCO has hiked the price of diesel it sells to fishermen in the country.
MIFCO's decision follows that of State Trading Organization STO to hike oil prices in the country following a spike in prices in global oil markets amid the uncertainty created in the industry due to Russia's invasion of Ukraine.
It said that fishing vessels must now pay MVR 14.44 for 1 liter of diesel while it would sell diesel for the public for MVR 17.10 per liter.
MIFCO had been selling 1 liter of diesel for MVR 12.68 for fishing vessels and 1 liter for MVR 15.00 for the public.
This is the 2nd time the company has hiked the oil prices in a matter of one month.
STO had also increased oil prices and said that starting yesterday it would sell 1 liter of petrol for MVR 14.60 and 1 liter of diesel for MVR 14.80
