State Trading Organisation (STO) has revealed that they are reducing fuel prices, effective today.

Following the Russia-Ukraine war that erupted in February 2022, Maldives also experienced several increases in fuel prices that reflected similar increases globally.

A statement by STO revealed that they are reducing MVR 0.62 per Diesel litre and MVR 0.83 per petrol litre. Hence, a litre of Diesel which was retailing at MVR 16.32 per litre will now be available for MVR 15.70 and a litre of Petrol which was retailing at MVR 15.97 will now be available for MVR 15.14.

The last time STO reduced fuel prices were in August 18, 2022.