Stelco increases fuel surcharge to MVR 0.38 per unit

State Electric Company (Stelco) has increased its fuel surcharge to MVR 0.38 per unit.

This is the second time for Stelco to increase its fuel surcharge within the duration of one month – having increased the fuel surcharge to MVR 0.27 per unit on December 9, 2016.

Stelco’s fuel surcharge had been MVR 0.04 per unit starting from September 19, 2016 and then increased to MVR 0.12 per unit on November 16, 2016 and then again increased to MVR 0.27 per unit on December 9, 2016.

The fuel charge was increased to MVR 0.38 per unit last Friday, January 6.

Maldives Energy Authority has permitted Stelco charge an extra MVR 0.03 in fuel surcharge for every MVR 0.10 above MVR 8 per liter Stelco buys the fuel for.

Stelco currently buys diesel for MVR 9.28 per liter.