STO hikes oil prices

State Trading Organization (STO) has hiked the prices of fuel and diesel.

As per the revised prices, a liter of diesel now costs MVR 10.95. This is an increase of 0.23 laari from the previous price. The price of a liter of petrol has been increased by 0.98 laari, now costing MVR 10.95 per liter.

STO said the changes in prices are due to changes in oil prices in the international market. Oil prices were last revised by STO on June 20.

The current price of a barrel of crude oil is USD 76 in the international market.