Economic Minister Mohamed Saeed has said the government is taking steps to prevent any increase in cooking gas prices, as a fresh shipment of liquefied petroleum gas (LPG) is expected to arrive in the Maldives tonight.
Speaking at a press conference held at the President’s Office by a special ministerial committee addressing the impact of the ongoing Middle East conflict, Saeed confirmed that deliveries are scheduled for both State Trading Organization (STO) and Villa Gas.
The assurance comes after Villa Gas announced plans to raise prices for cooking gas starting this week, with a proposed increase of 75 percent for 10kg cylinders and 44 percent for 20kg cylinders, triggering public concern over rising living costs.
Saeed said discussions have already been held with both STO and Villa Gas to explore solutions, noting that the government is reviewing multiple options to keep prices within acceptable limits. “If there is even the slightest possibility of a price increase, we will not allow it,” he said, adding that a final decision is expected within hours.
According to the minister, global market conditions have significantly influenced gas prices. He explained that LPG contract rates are set monthly, with the current benchmark price—determined by Saudi Arabia’s Aramco—standing at $757 per tonne. He also noted that supply routes, including shipments facilitated through Argentina, have contributed to increased costs in recent weeks.
Despite these pressures, the government said it is closely monitoring the situation to ensure that price changes do not place an additional burden on households or businesses.
The press briefing also addressed concerns about a potential surge in demand for Maldives Gas, as customers consider switching suppliers. Officials indicated that supply levels are being managed, with incoming shipments expected to stabilise availability in the short term.
Meanwhile, Thoriq Ibrahim said there have been no discussions so far regarding any increase in electricity tariffs linked to rising fuel costs.
The government has indicated that further updates on pricing and supply arrangements will be announced once ongoing discussions with suppliers are concluded.
