Price of petrol rises to MVR 16.55 per liter

A customer refuels his motorbike at a petrol shed in Male' City. (File Photo/Sun/Fayaz Moosa)

State Trading Organization (STO) has raised the price of fuel sold in Maldives following the hike in global fuel prices.

STO, in a statement on Thursday, noted that fuel prices continue to rise, and announced changes the price of petrol and diesel sold through its subsidiary Fuel Supplies Maldives (FSM).

As such, the price petrol has been raised from MVR 14.60 per liter to MVR 16.55 per liter, and the price of diesel has been raised from to MVR 14.80 per liter to MVR 16.77 per liter.

The changes are effective starting Friday, June 24.

STO had last made changes to fuel prices in March.

The price of a barrel of WTI crude oil is currently at USD 104, and the price of a barrel of brent crude oil at USD 109 in the global market.