State Trading Organization (STO) on Saturday, 05th March, confirmed the newly revised prices of petrol and diesel in the Maldivian market.
The state-owned organization and the primary oil importer to the Maldives had hiked the prices in the Maldivian market in light of surging global oil prices amid the Russia-Ukraine conflict.
According to STO, petrol will be sold at MVR14.60 per liter whereas it was sold at MVR12.98 per liter previously. In addition to this, diesel is currently sold at MVR14.80 per liter, which earlier was sold at MVR13.04 per liter.
The change in oil prices in the Maldivian market is reflective of the surge in the Brent Crude prices in the international market; which is currently priced at USD112 per barrel – an all-time high since 2014.