The State Trading Organisation (STO), the leading importer of fuel in the Maldives, has announced a reduction in petrol prices. This adjustment, which affects the petrol sold through its subsidiary, Fuel Supplies Maldives (FSM), came into effect on Sunday.
STO detailed that the price of petrol has been adjusted to approximately USD 0.88 per litre. This change reflects a decrease of USD 0.03 per litre, down from the previous rate of USD 0.91 per litre.
This revision marks the first petrol price adjustment by STO in 2025. The organisation generally attributes such reductions to volatility in global fuel markets. The announcement follows STO's last petrol price revision, which took place in May 2024. While the current reduction benefits petrol consumers, STO confirmed that diesel prices remain unchanged.