KATHMANDU: The Indian Oil Corporation (IOC) has sent a new price list for petroleum products to Nepal Oil Corporation (NOC).

The IOC has reduced the price of petroleum products this time as well as it did the same last two times.

According to NOC, the price of petrol per liter has decreased by Rs 1.80 and the price of diesel is Rs 4.8 lower. Similarly, the price of aviation fuel has come down by Rs 5 per liter.

Currently, petrol costs Rs 181/liter and diesel Rs 172/liter in the market.

NOC officials said that the NOC was incurring loss despite price falling. After the new price, the NOC will have to bear a loss of Rs 32 million in 15 days.

Nepal is receiving fuel at decreased price for the third time in a row. However, NOC is yet to slash price to consumers.