NOC Announces Significant Price Reductions for Petro Products

Kathmandu, Dec 16: In a move aimed at providing relief to consumers, the Nepal Oil Corporation (NOC) has officially announced a substantial reduction in the prices of petroleum products, effective from Saturday morning.

The decision was made during a meeting of the NOC Board of Directors held on Friday, wherein revised purchase rates from the Indian Oil Corporations (IOC), the primary exporter of petroleum products to Nepal, were considered.

As per the latest adjustments, the price of petrol in various depots across the country has been fixed at Rs 164.50 per litre for Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj depots. Meanwhile, the rates stand at Rs 166 per litre in Surkhet and Dang, and Rs 167 per litre in Kathmandu, Pokhara, and Dipayal depots.

The revised prices for diesel and kerosene have also been unveiled, with consumers now expected to pay Rs 154.50, Rs 156, and Rs 157 per litre for diesel at the respective depots.

NOC Spokesperson, Manoj Thakur, highlighted that these price adjustments were a direct result of the updated purchase rates provided by the Indian Oil Corporations. Notably, the new rates indicate a reduction of Rs 3.07 per litre for petrol and Rs 3.16 per litre for diesel, providing a welcome relief for consumers grappling with rising fuel costs.

The decision to lower prices comes as a strategic response to the fluctuating global oil market and aims to ease the financial burden on the public. The NOC remains committed to regular assessments and adjustments to ensure a fair and stable pricing mechanism for petroleum products in Nepal.