Wednesday 28th Jul 2021
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Mifco

Diesel Prices Rise to MVR 8.95 A Litre

Both the government’s fisheries company, MIFCO, and Horizon Fisheries; owned by Jumhooree Party leader, Qasim Ibrahim; have decided to raise the price at which they sold fuel to fishermen.
The current price at which both companies sell diesel to fishermen is MVR 8.59 a litre.
The decision was made on Saturday.
The last change that MIFCO had brought to fuel prices was in November 22 when the price of diesel was set at MVR 7.17 a litre.
Horizon Fisheries last brought changes to their prices five months ago, when they charged MVR 7.75 a litre.
According to fishermen, a large boat requires 1,200 litres of diesel per day to run. This would require 637kg of fish at current prices to break-even.