NOC hikes price of petroleum products

Published On: August 19, 2018 08:49 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Aug 19: Nepal Oil Corporation (NOC) has increased the prices of petroleum products on Sunday.

According to the press statement released on Sunday, the price of petrol has been increased by Re 1 per liter and diesel and kerosene by Rs 2 per liter. Likewise, the price of aviation fuel has been increased by Rs 4.50 per liter for domestic and US$ 50 per kiloliter for international airlines. The newly-increased price will come into effect from Sunday midnight.

Now petrol costs Rs 111 per liter, diesel and kerosene Rs 95 per liter, ATF (domestic) costs Rs 104.50 per liter and ATF (international) costs $1125 per kilolitre. However, the NOC has not increased the price of Liquefied Petroleum Gas (LPG).

NOC said that it hiked the price after the Indian Oil Corporation that supplies petroleum products to the NOC increased its rate. 

NOC has adopted an automatic pricing system to adjust the price of petroleum products according to the international price.

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