Maldives raises fuel prices

October 03, 2007 (LBO) -- Maldives on Wednesday raised fuel prices to keep pace with galloping world crude prices, the State Trading Organisation said.
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Prices of diesel go up 0.35 cents to Maldive Rufiyaa 8.65 (0.68 US cents), while kerosene costs 0.
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25 cents more or Maldive Rufiyaa 9.

30 (0.74 US cents), the statement said.
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In comparison to prices of fuel in world markets this change is still minimal, the company said adding that petrol prices have not been revised.

STO, which is privately-run but partly government-owned, has maintained diesel prices for the past four months amidst rising crude prices in the world.

The company said they have maintained the price of kerosene for the past one-year.

About 700 kilometres (435 miles) southwest of Sri Lanka, Maldives is a string of 1,192 coral islands scattered across the equator. Only 200 of the islands are inhabited, and the atoll nation imports virtually all its needs.

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The economy of just under a billion dollars is largely driven by tourism and fishing.

Tourism has helped make this Indian Ocean Island one of the richest nations in South Asia with a per-capita income of 2,674
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