The Maldives Police Service (MPS) on Monday warned of soaring taxi prices, saying it violates Ministry of Transport regulations.

The authority’s warning comes a day after news of taxi ranks operating in the Greater Male region agreed to a price hike on fares.

Earlier, reports confirmed that a total of 14 taxi centers operating in the region have come together to deliberate on raising taxi fare prices in light of the global oil price spikes.

The surge in global oil prices has already been reflected in the Maldivian market with the announcement by the State Trading Organization (STO) of revised petrol and diesel prices available at sister company Fuel Supplies outlets. Maldives (FSM).

Recent updates from the international market confirm that prices have climbed to USD 112 per barrel of crude oil – a record high since 2014.

Meanwhile, the decision to raise taxi fare prices according to taxi centers reflects rising oil prices, adding that the changes will tie up maintenance and fuel expenses.

However, the Maldives Police Service noted that taxi ranks do not have the legal authority to revise fare prices and that they fall exclusively under the mandate of the Ministry of Transport and Civil Aviation.

The authority cautioned against any relevant action against any party found to be in violation of the ministry’s existing regulations and approved tariffs.