The Stating Trading Organization (STO) has slashed its fuel prices once more.

STO revealed their decision to slash the prices of petrol and diesel following a drop in the price for fuel in the international market, in the early hours of Friday.

As such, fuel prices have been slashed starting Friday.

STO revealed that they reduced the price of diesel by MVR 0.63 and petrol by MVR 0.41 per liter.

This is the third time the company has reduced the prices for diesel and petrol this ongoing year. STO slashed petrol and diesel prices during May as well.

With these changes, a liter of petrol will now be available for MVR 14.73 and a liter of petrol will be priced at MVR 15.07.

The price changes will be followed at all sheds of the Fuel Supplies Maldives (FSM).

Prior to the beginning of May, a liter of diesel was priced at MVR 16.32. An MVR 0.62 reduction was implemented on May 1 with which diesel prices dropped to MVR 15.70 during the month.

Further, an MVR 0.83 reduction was brought to petrol prices as well, with which the price for a liter of petrol dropped from MVR 15.97 to MVR 15.14.