STO slices fuel prices reflecting global price drop

A petrol pump attendant at an FSM fuel shed | Photo: PSM News

State Trading Organization (STO) said on Sunday, that it has effectively cut prices on fuel – petrol and diesel.

This decision comes tied to the recent global fuel price reductions, STO added.

According to the largest state-owned enterprise (SOE), it has sliced MVR 0.70 per liter on diesel and MVR 0.35 per liter on petrol. With these changes, petrol will now be sold at MVR 13.98 per liter while diesel will be sold at MVR 13.92 per liter.

STO further said that such price revisions, directly reflecting global oil or fuel prices, is part of its consistent efforts in translating satisfactory service standards to the customer base.

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