The State Trading Organization (STO) has confirmed that fuel prices for fishermen, public ferry services, and the general public will remain unchanged despite volatility in global oil markets.

The State-owned enterprise issued the assurance following concerns that ongoing conflicts in the Middle East could lead to higher domestic energy costs.

STO stated that it had initially adjusted fuel prices for private businesses in response to changes in international markets. However, following a review of the current situation, the company decided not to proceed with any price increases.

Speaking to MMTV, a media official from STO stated that fuel supplied to the fishing industry will continue to be provided at subsidised rates under the Government’s “Fahi Hakatha” programme.

The company also confirmed that prices will remain unchanged at fuel sheds operated by its subsidiary, Fuel Supplies Maldives (FSM), both in the Greater Malé Region and across the atolls. STO stated that its current approach prioritises maintaining a stable supply of petrol and diesel without transferring additional financial pressure to the public.

To sustain the current price levels, the Government has decided to utilise projected profits from STO to absorb rising fuel procurement costs.

The decision follows an adjustment made earlier this month to fuel prices after tensions escalated in the Middle East. STO stated that no further increases have been implemented since those changes.