Business

Maldives slashes rates of petrol, diesel

A motorbike being filled up at an FSM fuel shed. PHOTO/MIHAARU

State Trading Organisation (STO) has slashed the price rates of petrol and diesel Sunday onwards.

In a press conference, STO stated that prices are lowered as a result of the amendment made to the Export Impact Act last Wednesday which decreased the import duty of petrol and diesel from 10 percent to five.

STO declared that, following the changes, it will also reduce the prices of petrol and diesel sold to state-run utilities companies, State Electric Company (STELCO) and Fenaka Corporation.

Full details are available from the link below:

Source URL: Mihaaru-Business

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