State Trading Organisation (STO) has reduced the price of petrol and diesel sold in the Maldives for the second time this year. The previous price reduction was made on May 1.
STO attributed the changes in fuel prices to the significant fluctuations in global fuel prices. STO will sell a litre of petrol for USD0.95 and a litre of diesel for USD0.97 through Fuel Supply Maldives Private Limited (FSM). Before the changes, a litre of petrol was sold for USD0.98 and a litre of diesel was sold for USD1.01.
STO said it is working to provide all its services to the public in a sustainable manner. The state-owned company said it will adjust its prices as global prices change. In addition to petrol stations in the Greater Male' Region, the company also supplies fuel to fishermen and power plants in the islands.