The State Trading Organisation (STO) has announced a reduction in petrol prices, with the revised rate set at MVR 13.50 per litre. This change, which came into effect on Sunday, marks the first petrol price adjustment by STO in 2025.
The new rate reflects a decrease of MVR 0.48 per litre, down from the previous price of MVR 13.98 per litre. According to STO, the adjustment follows a drop in global fuel prices, which currently range between USD 60 to 72 per barrel.
STO noted that the price cut is expected to benefit commuters and service providers, particularly during the upcoming Eid holidays. The revised price will remain in effect beyond the holiday period.
STO, the leading importer of fuel in the Maldives, manages fuel distribution through its subsidiary, Fuel Supplies Maldives (FSM). While petrol prices have been adjusted, STO confirmed that diesel prices remain unchanged.
The previous petrol price revision by STO occurred in May 2024.
