State Trading Organization (STO) has slashed its petrol and diesel prices on Friday.

STO stated that starting on Friday a liter of diesel will be priced at MVR 11.97, which is a reduction of 14 Laari.

A liter of petrol is now priced at MVR 11.39, which is a reduction of 10 Laari.

STO increased petrol and diesel prices on May 3.

At the beginning of the year, a liter of petrol was priced at 11.19 and a liter of diesel was priced at 11.99.