Council asks for FSM sheds in Addu as private companies hike fuel prices

The Addu City Council has called on the government to establish Fuel Supplies Maldives (FSM) fuel sheds across all districts of the southern Maldivian city, as private companies raise the price of fuel.

FSM has the price of petrol fixed at MVR 16.01 per liter, and the price of diesel at MVR 17.54 per liter.

In a statement on Sunday, the council said that the FSM, the subsidiary of the State Trading Organization (STO), does not have any fuel sheds in any of the residential districts of Addu, forcing residents of the populous city to rely on private companies for petrol and diesel.

The council said that private companies in Addu are selling petrol for MVR 24.22 per liter and diesel for MVR 31.34 per liter.

The council said they appealed to private companies to have their prices fixed against FSM’s rates, but that the that private companies were unable to lower their prices.

The council said that this has resulted in a huge financial burden on the people of Addu.

The city council also said that the FSM fuel dispenser in Gan, which houses the city’s airport, has slowed down with old age, prompting continued complaints regarding the long wait.

“This is costing the people time and adversely affecting their daily life,” said the council.

“This council therefore calls on the government and relevant authorities to provide a quick remedy to the concerns of the residents of Addu, and to arrange for access to fuel at affordable rates as per the previous policy as soon as possible.”

US and Israeli war on Iran — and Tehran’s closing of the Strait of Hormuz and strikes on oil refineries and other energy infrastructure in neighboring countries — have driven oil and gas prices sharply higher around the world.

The Maldives is among the 10 countries that has seen the highest increase in fuel prices since the war began, with STO as well as private fuel suppliers increasing prices.