STO reduces prices of diesel and petrol following cut in import duty

Following the cut in import duty of oil products as of 1 January 2012, the government company STO has reduced the prices of diesel and petrol.

Starting today, a liter of diesel is sold with a reduction of 62 laari, at Rf 15.03. A liter of petrol is sold with a reduction of Rf 1.17, at Rf 15.02.

Earlier, the cost of a liter of diesel was Rf 15.65. The cost of a liter of petrol was Rf 16.19.

An announcement published today by the company said that the prices of diesel and petrol sold by them have been reduced in order to allow Maldivian citizens the benefits of the government’s cut in import duty.

“Following the cut in the import duty of diesel and petrol as of 1 January 2012, to allow the Maldivian citizens to benefit from the reduction in the cost of importing oil products,” reads the announcement.