STO hikes prices on petrol and diesel

State Trading Organization (STO) has once again hiked the prices on petrol and diesel.

According to the corporation, the latest price bumps effective Sunday, 20 June, will not be available at the flat rate of MVR9.74 per liter on petrol and diesel at MVR10.72 per liter.

On the other hand, prior to the hike petrol per liter stood at MVR8.85 and diesel at MVR9.79 per liter.

STO’s sister company Fuel Supplies Maldives (FSM) is among the largest distributors of oil in Maldives, and the company’s decision of hiking prices is reflective on the global oil demand.

Previously changes to petrol and diesel prices were made during 16 March 2021, with an increment of MVR0.14 per liter on petrol and MVR0.60 per liter on diesel.