State Trading Organisation (STO) has increased the price of petrol and diesel.
The state-owned company increased USD 0.028 from a litre of petrol and USD 0.058 from a litre of diesel. Following the latest changes, a litre of petrol will be sold for USD 0.72 and a litre of diesel will be sold for USD 0.77.
STO said the changes reflect the increasing cost of importing fuel, stemming from the continued rise of fuel prices in the international market in recent weeks. The global fuel prices have increased significantly over the past two months, stated STO.
The company added it was necessary to hike the price of diesel over the fluctuations in global prices in order to provide customers with diesel without interruption. STO added it strives to supply fuel to the Maldives at the lowest price and has tried to maintain the current selling prices. adding the significant increase of fuel prices in the global fuel market has led to the price revision.