Price for diesel has been lowered by the State Trading Organization (STO) once again.

The organization made the reveal via Twitter on Wednesday, stating that the price of diesel has been reduced by 30 laari, effective from 13 February onwards.

STO’s CEO and Managing Director, Hussain Amru Mohamed Rashaad revealed that the company aims to continue providing petrol and diesel at affordable prices for the Maldivian market.

With this price slash, a litre of diesel will now cost MVR 10.89.

The organization slashes prices for fuel on three separate occasions throughout 2019 as a result of the worldwide reduction of diesel and petrol prices.

Although oil prices have hiked during the last year due to conflicts in the middle east, the company is working to ensure that petrol and diesel are made available for Maldivians at affordable prices, Amru revealed earlier.

Oil prices saw a hike by 34% in 2019, but oil was sold in the local market at affordable prices and by the end of the year, prices were lowered by 80 laari compared to the beginning of 2019.

STO earlier revealed its decision to expand its oil supply services to neighbouring Sri Lanka this ongoing month.