Nepal Oil Corporation Reduces Petrol, Diesel, and Kerosene Prices

The Nepal Oil Corporation (NOC) has announced a significant reduction in the prices of petrol, diesel, and kerosene, effective from Wednesday midnight.

According to the latest statement issued by NOC, the price of petrol has been lowered by Rs 7 per liter, while both diesel and kerosene prices have been reduced by Rs 5 per liter. Following this adjustment, petrol will now retail at Rs 171 per liter in Kathmandu, with diesel and kerosene available at Rs 154 per liter.

Explaining the rationale behind the price adjustment, NOC cited a decrease in prices forwarded by the Indian Oil Corporation (IOC), the sole supplier of petroleum products to Nepal. The IOC had reduced the prices of petrol by Rs 6.75 per liter and diesel/kerosene by Rs 5.09 per liter.

While these adjustments bring respite to motorists and households, NOC has maintained the prices of aviation turbine fuel and liquefied petroleum gas at their current levels.

The reduction in fuel prices is expected to ease the financial burden on consumers and contribute to overall economic stability in the country.