STO Reverses Fuel Price Increase for Public Transport Operators

The State Trading Organization (STO) has reversed its decision to increase fuel prices for private businesses, announcing that public transport and public ferry operators will continue to receive fuel at the previous rates.

In a statement, STO said arrangements have been made to supply petrol and diesel to public transport services and public ferry operators at pre-determined prices, ensuring the continuity of essential services without placing additional financial burdens on operators.

The company had earlier increased the price of fuel sold to private businesses in response to rising international oil prices linked to the ongoing conflict in the Middle East. However, STO has now decided to roll back that increase for public transport and ferry services.

STO also confirmed that the government will continue providing fuel to fishermen at subsidized prices under the government’s “Fahihakatha” programme.

According to the company, there has been no change in the price of fuel sold through Fuel Supply Maldives (FSM) sheds in the Malé region. Businesses operating fuel sheds in the atolls purchasing fuel from STO will also be able to obtain fuel at the previous prices.

STO said the decision is aimed at ensuring the continued availability of petrol and diesel to the public while minimizing financial strain during a period of volatility in global fuel markets.

Fuel prices in the Malé region remain unchanged, with petrol sold at MVR 16.01 per litre and diesel at MVR 17.54 per litre.