STO Increases Fuel Prices Once Again

State Trading Organization (STO) has once again announced new changes, increasing its diesel and petrol prices in the Maldives.

Due to the increasing price of fuel in the global market during this period of time, the price of imported fuel in the Maldives has also risen. Consequently, from today onwards, the following changes have been made to the prices of diesel and fuel sold by STO:

  • Diesel: MVR 16.77 per litre
  • Petrol: MVR 16.55 per litre
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Fuel Supply Maldives (FSM) will sell a litre of petrol for USD 1.07 and a litre of diesel for USD 1.09 as per the newly announced changes. 

Oil and fuel prices tend to fluctuate in the global market over time, depending on various factors and STO further stated that it was necessary to hike the price of diesel over the fluctuations in global prices in order to provide customers with diesel without interruption.

The state-owned company’s subsidiary, Fuel Supplies Maldives (FSM), is the main importer of petroleum products to the country.

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