Price of diesel and petrol increased

February 24. 2021: A man refueling a motorcycle in Male' City. (Sun Photo/Fayaz Moosa)

State Trading Organization (STO) has increased the price of diesel and petrol in the Maldives. 

STO said that the rise in prices was because the global prices of an oil barrel had increased twofold when compared to four months ago. 

Prices of oil sold through the subsidiary of STO, Fuel Supply Maldives would be increased due to the change in global prices in order to continue the service sustainably. 

Diesel is now sold at MVR 9.97 per liter from MVR 9.19 per liter. Petrol is now sold at MVR 8.85 per liter while MVR 8.44. 

STO last changed prices of oil on February 21.