KATHMANDU: The Nepal Oil Corporation (NOC) has announced a hike in the prices of petroleum products, effective from 1 am Monday.

According to NOC sources, the increase in the price of petroleum products in Nepal is due to the new purchase price from Indian Oil Corporation (IOC).

IOC has increased the price of petrol by 4.76 rupees per liter, while reducing the price of diesel and kerosene by 39 paisa per liter and cooking gas by 27.44 rupees per cylinder.

However, NOC has not reduced the price in diesel, kerosene and gas claiming that it has been at loss in the sale of gas since long.