STO again bumps oil prices in Maldives

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

The new bump sees an inclusion of 14 Laari on diesel per liter and 35 Laari on petrol per liter. With this addition to the existing prices, the new sales price on diesel has hit MVR11.13 per liter and MVR10.77 on petrol per liter.

The prime importer of oil to Maldives, STO had stated the price bump is the result of crude oil price hiking in international market.

The public limited corporation had most recently sliced its petrol and diesel prices back in May 6. Back then diesel added 20 Laari per liter and petrol added 30 Laari were skimmed bringing down the prices to MVR10.21 on diesel per liter and MVR10.11 on petrol per liter.