KATHMANDU, Oct 1: In a recent development, the government has rescinded the recently imposed hike in petroleum product prices.

The Nepal Oil Corporation (NOC) had implemented a price increase for various petroleum products, including LPG, starting from Saturday night. However, following a Cabinet meeting today, the government directed the NOC to reverse this price adjustment.

Law Minister Dhanraj Gurung announced that following the government's directive, the NOC will release an official statement and revert to the previous pricing structure.

A meeting of the board of directors of NOC on Saturday had decided to raise the price of petrol by Rs 2 per liter, diesel and kerosene by Rs 6 per liter, and cooking gas by Rs 215 per cylinder. Additionally, both domestic and international aviation fuel prices were raised by Rs 8 per liter.

With this, petrol would cost Rs 185 per liter, while diesel and kerosene each costs Rs 179 per liter. Similarly, the market price of cooking gas has reached Rs 2,110 per cylinder. The prices of ATF for domestic use and international flight had gone up to Rs 144 per liter and $ 1.095 per liter, respectively.

 
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