State Trading Organization STO has hiked the price of fuel being sold in the country.
This is the 2nd time the company has hiked the oil prices in a matter of one month.
Thirty days ago, STO had been selling petrol for MVR 12.06 per liter and diesel for MVR 12.44 per liter.
But with the most recent change implemented today, a petrol liter would now be sold to MVR 12.98 while STO would be selling 1 liter of diesel for MVR 13.04.
This would mean that the price of petrol had now risen 7 percent while the price of diesel has now hiked to 4 percent.
In a statement, STO clarified that the price of oil has risen on the international markets and that fuel would be sold at the newly announced prices from the fuel stations operated under its subsidiary FSM.
The fluctuations in the international oil market have forced STO to change its fuel prices from time to time but assured its customers that it was working to ensure that it can provide oil to customers in the most effective manner.
