Diesel cut by MVR 2, petrol cut by MVR 1 per liter

State Trading Organization (STO) has reduced the price of diesel and petrol imported and distributed by the company.

The price of diesel has been reduced by MVR 2, and the price of fuel has been reduced by MVR 1.

The changes took effect this Monday.

STO announced its revised prices in a statement this Monday morning.

REVISED PRICES:

• Diesel: MVR 9.99 per liter
• Fuel: MVR 10.19 per liter

This marks the second time for STO to reduce the price of its diesel and fuel in the last three months.

The last reduction took place on November 13, 2018 when the price of diesel was reduced to MVR 11.99 per liter and the price of petrol was reduced to MVR 11.19 per liter.

STO, in its statement this Monday, credited the latest reduction in its prices to a global decrease in oil prices.