The Edition
facebook icon twitter icon instagram icon linkedin icon

Latest

STO hikes rates for diesel, petrol

Mariyam Malsa
05 May 2019, MVT 12:15
A motorcycle being refuelled at a Fuel Supply Maldives (FSM) shed operated by STO. PHOTO: HUSSAIN WAHEED/ MIHAARU
Mariyam Malsa
05 May 2019, MVT 12:15

State Trade Organisation (STO), on Friday, increased the prices of petrol and diesel by 70 laari (MVR 0.70) and 50 laari (MVR 0.50) respectively.

Changes to local petrol-diesel rates:

- Petrol decreased from MVR 11.49 to MVR 10.79 per litre.

- Diesel decreased from MVR 12.11 to MVR 11.61 per litre.

The last increase in fuel prices was brought on March 15.

STO attributed the higher rates to the Organization of the Petroleum Exporting Countries (OPEC) cutting down production levels, as well as difficulties in Iran's oil trade. Due to the combination of these factors, STO stated that fuel prices have been increasing in the global market since March.

Share this story

Related Stories

Discuss

MORE ON BUSINESS