State Trading Organization (STO) announced the most recent change in the retail prices of fuel on Thursday June 23.
According to STO, effective from June 24, Friday, petrol will be sold at MVR16.55 per liter and diesel at MVR16.77 per liter. Previously the company had revised its fuel prices back in March 04, 2022.
Back in March, the retail price of diesel sold from petrol sheds were at MVR14.80 per liter and petrol was sold at MVR14.60 per liter.
This recent bump in fuel prices is reflective of the increasing oil prices in international markets. The price of a fuel barrel in the international market is currently at USD 106.19.