Maldives Industrial Fishing Company (MIFCO) and Horizon Fisheries have said that they have raised the price of diesel fuel because the price available for them to buy have also gone up.

Talking to One Online, the Managing Director of MIFCO, Ismail Fauzee said that MIFCO is not a fuel importing company and so the diesel fuel for the fishermen have to be bought as well.

He said hat MIFCO buys diesel from the Fuel Supplies Maldives (FSM) operated under STO and when they raised the price, MIFCO raised the price as well.

MIFCO last raised the price of diesel sold to fishermen on 22 November 2020 to MVR 7.17 per liter. The new change to the price day have raised the price to MVR 8.50.

Managing Director of Horizon, Mhamed Yagsan told One Online today that they previously sold diesel to MVR 17.7 and the price went up today when their buyer, FSM raised the price due to the oil prices in the global market.

He said that with the new change, fishermen can buy a liter of diesel for MVR 8.50 and MVR 13.19 for other customers.