Minister of Finance and Planning, Moosa Zameer, has said the State Trading Organization (STO) will maintain current fuel prices even if it means reducing the company’s profits.

Speaking at a press conference at the President’s Office, Zameer said the government has analyzed global oil price changes and taken steps to prevent major impacts on the Maldives.

He noted that STO recently purchased a fuel vessel with a capacity of 24,500 metric tons at the beginning of the year, and another vessel with a capacity of 22,000 metric tons will also support fuel supply. These measures help ensure the country maintains adequate fuel stocks.

Zameer said the government is working to absorb rising costs through subsidies and reduced STO profits to keep domestic prices stable despite increases in the global oil market.

According to the minister, the Maldives has not faced difficulties in obtaining fuel and supplies will continue to arrive as scheduled. He added that the government has been providing significant subsidies on fuel to reduce the burden on the public.