STO hikes oil prices in light of global surge

State Trading Organization (STO) on Friday, 21 January 2022 in light of surging oil prices in the global market.

According to the largest state owned enterprise, the hiked changes effective from Friday onward are;

  • Diesel – MVR12.44 per liter
  • Petrol – MVR12.06 per liter

The premier oil supplier in the Maldives on a nationwide scale reported that the changes to the per liter prices is reflective of the hike in import cost as well.

However, despite the challenges in light of rising prices in the international market, STO aims to provide fuel to the local consumer base at the lowest possible price ranges.