Minister of Economic Development and Trade, Mohamed Saeed, has stated that STO brought in two new fuel shipments last week and is maintaining the supply to ensure that stocks do not run out.

The ongoing conflict in the Middle East has led to difficulties in fuel transportation for many countries across the globe, especially following the closure of the Strait of Hormuz. Additionally, international fuel prices have seen a significant surge.

In a post on X last night, Minister Saeed noted that STO procures fuel based on national demand and through pre-arranged "nomination" agreements with suppliers. He confirmed that two such shipments arrived in the Maldives last week.

"In this situation where global oil prices are rising and supply challenges are mounting due to the war in the Middle East, the government is taking swift and strategic measures under the robust leadership of President Dr. Mohamed Muizzu. STO is successfully maintaining fuel stocks to ensure there are no shortages for the nation and its citizens," the Minister said.

Minister Saeed further added that additional fuel shipments are already scheduled to arrive in accordance with the agreed nominations and timelines with suppliers. He assured the public that fuel, gas, staple foods, and other essential items will continue to be imported and made available to the citizens without any interruption.

While fuel prices have risen in the Maldives, some private businesses in the islands have significantly increased their retail prices for petrol and diesel.