State Trading Organisation (STO) has increased the price of petrol and diesel.
The state-owned company increased USD 0.058 from a litre of petrol and USD 0.060 from a litre of diesel. Following the latest changes, a litre of petrol will be sold for USD 0.63 and a litre of diesel will be sold for USD 0.70.
STO stated in order to provide customers with diesel without interruption, it was necessary to hike the price of diesel over the fluctuations in global prices. The change reflects the increasing cost of importing fuel, stemming from the continued rise of fuel prices in the international market in recent weeks, said the company.
STO added it strives to supply fuel to the Maldives at the lowest price and has tried to maintain the current selling price adding however, the significant increase of fuel prices in the global oil market has led to this price revision.