KATHMANDU: Nepal Oil Corporation (NOC) has increased the price of petroleum products by Rs 5.

As per the new notice issued by NOC, prices of petrol, diesel and kerosene, have increased by Rs 5 per liter effective from midnight today, Thursday.

With this, a liter of petrol will cost Rs 150.  Likewise, a liter of diesel and kerosene will each cost Rs 133, according to the NOC.

The NOC’s move is in line with the rising fuel prices in international market and aimed at minimizing loss.

NOC decided not to increase the price of cooking gas though it is bearing loss of Rs 665.34 per cylinder. The price of aviation fuel has also been adjusted.

Even after this price adjustment, NOC will incur a loss of Rs 2.5 billion in 15 days, said NOC Joint Spokesperson Pushkar Karki. The corporation has stated in a statement that it will lose Rs 28 billion from mid-February to mid March.

The board of directors of NOC also decided to slash allowance given to employees for dress stating that the financial crisis has deepened.