State Trading Organization (STO) has reduced 31 laari from a litre of petrol and 54 laari from a diesel litre today. STO revealed that a litre of petrol being sold at MVR16.52 would now be available for MVR16.21 while the price from a diesel litre has been reduced from MVR16.50 to MVR15.96 with effect from today.
The company further said that the reduced prices were down to the global shift in oil prices.
This would be the first time STO has reduced prices of oil this year, while it had gone up three different times during the same period.
The last time STO increased prices was on April 5, which saw a petrol litre raised by 85 laari while a diesel litre went up by 82 laari.
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