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STO increased fuel prices

State Trading Organization (STO) has announced an increase in the prices of the diesel and petrol it imports and sells in the country for a second time in a period of one month.

STO issued a statement this Monday in which it announced that the organization had decided to increase the prices of its diesel and petrol due to the overall global increase in fuel prices.

Starting this Monday, the price of diesel has been increased by MVR 0.53 per liter, and the price of petrol has been increased by MVR 0.57 per liter.

The change pushes the price of one liter of diesel to MVR 9.17, and the price of one liter of petrol to MVR 9.52.

STO last increased the prices of fuel less than a month ago, on September 6. At the time, the price of one liter of diesel was increased by MVR 0.20 and the price of one liter of petrol was increased by MVR 0.30.

The organization had dropped the prices of its fuel on July 18, when it lowered the price of one liter of diesel by MVR 0.51 and the price on one liter of petrol by MVR 0.30. The decision at the time was made after the duty on petrol and diesel was dropped from 10 percent to 5 percent.

Before the changes in July, STO had sold both petrol and diesel at MVR 8.95 per liter.

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