KATHMANDU, March 16: Nepal Oil Corporation (NOC) has reduced the price of petroleum products. 

The price of petrol has been decreased by Re 1 per liter and the price of diesel by Rs 2 per liter with effect from last midnight. 

Accordingly, the NOC has set the market price of petrol at Rs 168.50 paisa per liter for the first category, Rs 170 for the second category and Rs 171 per liter for the third category. 

Likewise, the price of diesel and kerosene is Rs 155.50 per liter, for the second class Rs 157 and for the third category Rs 158 per liter, said Manoj Thakur, the spokesperson of the NOC. 

The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj while the second category includes Surkhet and Dang while Kathmandu, Pokhara and Dipayal fall under the third category. The price adjustment has been made based on a new purchase price received from Indian Oil Corporation (IOC) that supplies the fuel to the NOC. 

The purchase price of petrol and diesel received from IOC has decreased by Rs 1.22 and Rs 2.06 per liter respectively.