State Trading Organization (STO) has raised the price of petrol and diesel sold through its subsidiary Fuel Supplies Maldives (FSM).
STO attributed the rise in prices to the major change in the price of fuel in the global market. The company said it needed to make the change “in order to provide fuel services in a sustainable manner”.
As such, the price petrol has been raised from MVR 8.85 per liter to MVR 9.74 per liter, and the price of diesel has been raised from MVR 9.97 per liter to MVR 10. 72 per liter.
FSM’s fuel sheds will be selling petrol and diesel in accordance with the new rates starting this Sunday.
STO last made changes to the price of petrol and diesel on March 16.