State Trading Organization (STO) has raised fuel prices.
In an official statement, STO announced new prices for fuel sold at Fuel Supply Maldives (FSM) sheds, effective June 20, 2021.
Changes in prices
A liter of petrol costs MVR 9.74, an increase of MVR 0.89
A liter of diesel costs MVR 10.72, an increase of MVR 0.93
According to STO, inflation is due to an increase in fuel rates across international markets.
STO is the main supplier of fuel to the Maldives. However, certain company policies cause frequent price fluctuation. Private companies often provide fuel at better rates than the state-owned company.