Petrol, diesel prices increased by MVR 1 per litre

State Trading Organisation (STO) has increased petrol and diesel prices by MVR 1 per litre.

STO said that the increase follows rise in world oil prices.

This means petrol and diesel prices went up from MVR 10 to MVR 11 per litre.

STO has decreased fuel prices five times since November 2014, following reductions in world prices.

Organization of the Petroleum Exporting Countries (OPEC) said recently that world oil prices are likely to pick up soon.

Statistics published by Maldives Customs Service show that fuel was the highest imported category of items in February 2015. At MVR 517.6 million, fuel constituted 22 percent of all goods imported.