Tuesday 24 Mar 2026
Economic Minister Mohamed Saeed speaks to reporters on March 3, 2026. (Photo/President's Office)
The Maldivian government, led by Economic Minister Mohamed Saeed, has announced that the nation has successfully secured new fuel shipments to mitigate potential shortages arising from the ongoing Middle East conflict. Despite global supply disruptions and inflationary pressures on energy commodities, the State Trading Organization (STO) is managing supply chains effectively through pre-agreed nomination arrangements. The administration has explicitly assured the public that essential resources, including fuel, gas, and food staples, will remain accessible. To buffer the economic impact on the populace, the government intends to absorb rising global costs by reducing the projected profit margins of the state-run utility provider.
Economic Minister Mohamed Saeed says the Maldives received two new shipments of fuel last week, despite the global supply disruption and rising prices amid the US-Israeli war on Iran.
The remarks come after the State Trading Organization (STO) confirmed the arrival of a new shipment of fuel on Saturday.
In a post on X on early Sunday, Saeed acknowledged the rising global fuel prices and disruption to supply due to the ongoing war in the Middle East.
But he said that the government has been taking speedy decisions to mitigate the impact of the war on the Maldives, and that the STO has been maintaining its fuel stock.
He said that STO brings in fuel based on the demand in the Maldives, and through a pre-agreed nomination arrangement with suppliers.
Saeed said that STO brought in two new shipments of fuel last week, with another shipment “scheduled to arrive in the Maldives in accordance with the nominations and dates agreed with by suppliers.”
މެދުއިރުމަތީގައި އުފެދިފައިވާ ހަނގުރާމައިގެ ސަބަބުން ދުނިޔޭގެ ބާޒާރުގައި ތެލުގެ އަގުތައް އުފުލެމުން ދިޔުމުގެ އިތުރަށް، ތެޔޮސަޕްލައި ކުރުމަށްވެސް ގިނަ ގޮންޖެހުންތަކެއް ކުރިމަތިވެފައިވާ މި ޙާލަތުގެ އަސަރު ދިވެހި ޤައުމާއި ރައްޔިތުންނަށް ކުރާވަރު ވީހައިވެސް ކުޑަކުރެއްވުމަށްޓަކައި ރޖ…
— Mohamed Saeed (@em_saeed) March 21, 2026
He provided assurance that the Maldivian people will have the fuel, gas and food staples they need available without disruption.
While the opposition and economic experts urge the Maldivian government to take measures cut costs and conserve fuel, the government continues to provide assurance that cost of the rising global fuel prices will be absorbed by the STO by cutting into its projected profits.
The Maldives has been a rise in the price of petrol and diesel since the war began, resulting in private transport services raising their fares.
