KATHMANDU: The government has reduced the price of petroleum products to be effective from midnight today.

Speaking at a press conference in Kathmandu, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu informed on Saturday that the government reduced the price of petrol by Rs 20 per liter and diesel by Rs 28 by adjusting the tax on petroleum products.

Petrol is now priced at Rs 179 per liter and diesel at Rs 163 per liter. This decision will be implemented from 12 noon on Saturday.

Earlier, petrol was priced at Rs 199 per liter and diesel at Rs 192.

Earlier, at a meeting of the ruling coalition on Saturday, it was agreed to reduce the price of petroleum products by reducing the tax on petroleum products.

The Industry and Commerce and Labor and Consumer Protection Committee of the parliament had directed the government to reduce the tax on petroleum products by 50 percent.

Nepal Oil Corporation had increased the price of petroleum products six days ago at midnight on Sunday.

At that time, the corporation had increased the price of petrol by Rs 21 and diesel by Rs 27 at a time. There was strong opposition to the price hike.