State Trading Organisation (STO), on Thursday, reduced the price of petrol and diesel by 53 laari (MVR 0.53) and 50 laari (MVR 0.50) respectively.

Changes to petrol-diesel rates:

Petrol decreased from MVR 10.13 to MVR 9.60 per litre

Diesel decreased from MVR 10.89 to MVR 10.39 per litre

This marks the second time STO slashed diesel prices in 2020 and the first change to petrol rates this year. The company last lowered diesel rates in February and reduced the price of petrol per litre in July 2019.

STO attributed the price cuts to a decrease of fuel rates in the international market.