For the fourth time since the beginning of this year, State Trading Organization (STO) has slashed their diesel and petrol prices.

Effective from Monday onward, price of petrol has been reduced by MVR one, the company revealed via a tweet.

With this reduction, a liter of petrol will now cost MVR 10.13.

The last time the company slashed prices was in June. Back then, STO slashed 26 laari from a liter of petrol.

The government granted permission for petrol stations to be kept open round the clock on 04 December last year. This change was brought after a bill proposing an amendment to the import and export act of Maldives. Prior to the amendment, petrol and diesel stations operated from 5am to 12am.

Currently, only the petrol shed in the swimming track region operates round the clock.