The State Trading Organisation (STO) has announced a reduction in petrol prices, marking the first decrease in fuel rates by the company this year.

Starting Sunday, petrol will be sold at MVR 13.50 per litre at Fuel Supply Maldives (FSM) petrol sheds, down from MVR 13.98, reflecting a reduction of MVR 0.48 per litre.

While petrol prices have been lowered, the price of diesel remains unchanged.

Fuel prices in the Maldives are adjusted based on fluctuations in global oil markets. The last revision in petrol prices by STO was made in May 2024.