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STO slashes petrol rates for fourth time

15 July 2019, MVT 14:42
A fuel shed managed by Fuel Supplies Maldives in Male' City. PHOTO: HUSSAIN WAHEED / MIHAARU
15 July 2019, MVT 14:42

State Trading Organisation (STO) lowered petrol rates by one laari (MVR 0.01) effective from Monday onwards.

According to the company's announcement late Sunday, the new petrol rate is MVR 10.13 per litre.

STO did not bring any changes to the rate of diesel, which is priced at MVR 11.97 per litre.

This marks STO's fourth fuel price reduction so far this year.

The company last decreased prices last month, lowering petrol and diesel rates by 26 laari and 78 laari respectively.

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