STO brings down fuel prices

State Trading Organization (STO) has once again decreased the price of fuel.

STO said that fuel prices had been brought down as the price of fuel had gone down in the global market as well.

With the new changes, a litre of diesel sees a price reduction of MVR 0.70 and a litre of petrol sees a price reduction of MVR 0.35.

Hence, from today, a litre of diesel will be sold at MVR 13.92, and a litre of petrol at MVR 13.98.

The last price reductions were brought in December last year.

STO stated that they always strive to provide uninterrupted, continued services.

The price of fuel in the global market has a lesser impact on the public due to fuel subsidies granted by the State. In 2023, MVR 1.9 billion was spent on fuel subsidies. This year, MVR 770 million has been allocated for fuel subsidies.