News price reduction / fuel prices Maldives Impact 5.0/10 2 min read

STO Reduces Diesel, Petrol Prices

The State Trading Organization (STO) reduced diesel prices by MVR 0.45 per litre and petrol by MVR 0.40 per litre, marking the third consecutive reduction this year. Diesel now costs MVR 14.62 and petrol MVR 14.33 per litre. The reduction follows a global decline in fuel prices, with crude oil reaching a five-month low of $69 per barrel in December 2023. STO is 82% state-owned and led by new CEO Shimad Ibrahim, confirmed on 28 November 2023.

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Maldives Republic

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Dec 8, 2023

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📋 Story Brief

The State Trading Organization (STO) reduced diesel prices by MVR 0.45 per litre and petrol by MVR 0.40 per litre, marking the third consecutive reduction this year. Diesel now costs MVR 14.62 and petrol MVR 14.33 per litre. The reduction follows a global decline in fuel prices, with crude oil reaching a five-month low of $69 per barrel in December 2023. STO is 82% state-owned and led by new CEO Shimad Ibrahim, confirmed on 28 November 2023.

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Maldives Republic News Outlet Single source

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Focus: STO Reduces Diesel, Petrol Prices

Unique detail: STO Reduces Diesel, Petrol Prices

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10:59

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Maldives Republic

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Official government or institutional statement

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