State Trading Organization (STO) has raised the price of petrol and diesel.

The company said that the price was raised due to the changes to the fuel prices on the global market which in turn has raised the price the price for them.

And so, MVR 0.48 will be raised from every liter of diesel while MVR 0.37 will be raised from petrol. Thus, the new price of diesel is MVR 9.19 per liter and MVR 8.44 per liter for petrol, starting today.

STO dropped the price of petrol last year on three different occasions.

The fuel prices went down significantly on the global market last year due to the COVID-19 pandemic. However, the price have now gone up back to the range they were at before the pandemic. Now, a barrel of crude oil is priced at USD 60.06.