STO lowers fuel prices

Tuesday, October 14th, 2008

State Trading Company (STO) has revealed the company has reduced the prices of diesel and petrol effective as of yesterday. State Trading Organization reduced the price of diesel by Rf1.00 per liter and petrol by Rf0.50 per liter.

According to the statement issued by the company yesterday, the price of diesel now stands at Rf14.75 per liter and the price of petrol now costs Rf13.75 per liter. There was no change to prices of kerosene.

According to a statement issued by the company the company lowered its prices of fuel oil prices due to low fuel prices and low price of last fuel shipment purchased by the company. The company also said the last time fuel prices were reduced when the world oil prices after remaining at US $ 91 per barrel suddenly jumped to US $ 120 per barrel. STO further said company’s fuel oil prices vary not only depending on the global prices of unrefined oil but also on several factors, including the remaining quantity in storage , the prices of refined oil on the day of the purchase and also the value of the US dollar.

STO last lowered its fuel prices on 23 rd of September. The company then reduced Rf0.75 from a diesel liter and Rf0.25 from a kerosene liter.

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