Maldives sees first fuel price cut in almost a year
According to a notification issued by the STO Monday morning, petrol prices will be reduced by MVR 0.83 per litre and diesel by MVR 0.62 per litre.
Top Stories
-
Governor says majority of tourism dollars remain outside banks
-
Govt targets MVR 2.8B from land sales, transfer fees by 2029
-
MMA warns rising domestic poses risks to financial stability
-
Auditor General recommends reducing salary, subsidy in 2027
-
RCC launches MVR 120M bond for Blue Marina View project
STO, the main oil importer in the country, on Monday cut fuel prices for the first time in almost a year.
Since the start of the Russia-Ukraine war in February last year, STO has also increased fuel prices five times in response to a sharp rise in global oil prices. The last revision in fuel prices was in June.
According to a notification issued by the STO Monday morning, petrol prices will be reduced by MVR 0.83 per litre and diesel by MVR 0.62.
-
Petrol at MVR 15.14 per litre; earlier it was being sold at MVR 15.97
-
Diesel at MVR 15.7 per litre; earlier it was being sold at MVR 16.32 per litre
In the days following the Russia-Ukraine war, global crude oil prices rose to $120 a barrel. But global oil prices are now at an average of $76 a barrel.
