STO increases fuel prices

State Trading Organisation (STO) has increased the price of petrol and diesel.

According to STO, the price of fuel has been increased due to the increase in the price of fuel in the international market. Following the changes, Fuel Supply Maldives (FSM) will sell a litre of petrol for USD 0.82 and a litre of diesel for USD 0.81.

Previously, a litre of petrol was sold for USD 0.72 and a litre of diesel cost USD 0.77. With this change, a litre of petrol has increased by USD 0.058, while a litre of diesel has increased by USD 0.039.

STO stated it was necessary to hike the price of diesel over the fluctuations in global prices in order to provide customers with diesel without interruption.