KATHMANDU: Nepal Oil Corporation (NOC) has increased the prices of petroleum products, citing fluctuations in the international market.
The new rates came into effect from today following a decision by the Corporation’s board of directors. Prices of petrol, diesel, kerosene, cooking LPG, and aviation fuel have all been raised.
According to the revised rates, petrol has increased by Rs 17 per liter, while diesel and kerosene have gone up by Rs 25 per liter each. The price of cooking LPG has been raised by Rs 100 per cylinder, and domestic aviation fuel has increased by Rs 6 per liter.
With the adjustment, petrol is now priced at Rs 219 per liter in the Kathmandu Valley, while diesel and kerosene cost Rs 207 per liter. Cooking LPG is priced at Rs 2,010 per cylinder, and domestic aviation fuel stands at Rs 257 per liter.
The government stated that the price hike was necessary as losses persisted despite a 50 percent reduction in customs duty and infrastructure development tax. The Corporation estimates it will still incur a fortnightly loss of around Rs 7.81 billion even after the latest revision.
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