Minister of Economic Development and Trade Mohamed Saeed has assured that there is no shortage of fuel stocks in the Maldives despite recent volatility in international fuel prices linked to unrest in the Middle East.

Speaking at a press conference held at the President’s Office, Minister Saeed said global fuel prices had increased by approximately 25 to 30 per cent in recent days. However, he stressed that the Maldives has taken necessary precautionary measures and does not face any immediate supply concerns.

He noted that fuel stocks remain sufficient, with additional shipments already en route to the Maldives. The Minister further stated that there are no disruptions to aviation fuel supplies and that the Government is closely monitoring developments in international markets.

Minister Saeed said efforts are underway to expand national fuel storage capacity as part of contingency planning. He highlighted that the Maldives’ consumption base has increased due to growth in tourist arrivals and the resident workforce, requiring forward-looking planning to ensure uninterrupted supply.

He also confirmed that the Government is coordinating closely with State Trading Organisation (STO) and relevant authorities, including the Ministry of Finance and Planning, to safeguard fuel security and manage potential economic impacts.

The Minister added that the Government is exploring alternative supply routes to mitigate risks associated with regional instability and is working to ease any potential burden on the public arising from global price fluctuations.