The State Trading Organisation (STO) has increased the price of petrol and diesel amid fluctuations in the global fuel market.
STO has decided to increase MVR 0.93 per diesel liter and MVR 0.89 per petrol liter. A diesel liter will now be sold for MVR 10.72 and petrol liter will be sold for MVR 9.74.
STO stated in order to provide diesel without interruption, it was necessary to increase the price of diesel over the fluctuations in global prices and increasing import cost. STO added that their main target is always to provide fuel to Maldivians at the lowest price possible but significant changes in global market affects the pricing strategies.