The State Trading Organisation (STO) has slashed the price of oil.

STO said in a post on X last night that the company has reduced petrol by 40 laari per litre and diesel by 45 laari from today.

At present, the price of petrol is MVR 14.33 per litre, while diesel is priced at MVR 14.62 per litre.

STO has slashed fuel prices thrice so far this year, the last in June.

In June, the STO reduced the price of petrol by 14 laari to MVR 14.73 per litre, while diesel was cheaper by 63 laari to MVR 15.07 per litre.