Jet fuel price reduced at Velana International

Velena International Airport has reduced the price of jet fuel being sold from the airport.

Maldives Airports Company Limited (MACL), the operator of the airport, said that the price drop in jet fuel was a result of the reduced tax from fuel by the government and the low oil prices on the international market.

And so from 1 July 2017 on wards, Velana International Airport has been selling jet fuel to domestic and international carriers at a reduced rate.

Previously, the airport was selling jet fuel at a rate of USD 0.74627 per liter (MVR 11.5) to domestic carriers and USD 0.71610 (MVR 11.04) per liter for international carriers. The new rate for domestic carriers are USD 0.69835 (MVR 10.768) per liter and USD 0.69303 (MVR 10.686) for international carriers.

State Trading Organization (STO) reduced the price of petrol and diesel last month due to the reduced tax in fuel.

Electricity providers, STELCO and FENAKA also get their supplies from STO and with the reduced price, the government has lowered electricity charges as well.