KATHMANDU:- The Nepal Oil Corporation (NOC) has again increased the prices of petroleum products.
The state-owned corporation has hiked the petro prices, citing fluctuations in crude oil prices in the international market.
The NOC has increased the prices of petrol, diesel, kerosene and cooking gas, effective from Thursday midnight. The NOC board of directors has increased petrol price by Rs 17 per litre and diesel and kerosene by Rs 25 per litre each.
Likewise, the price of cooking LPG has been increased by Rs 100 per cylinder. According to the corporation, domestic aviation fuel has increased by Rs 6 per litre.
With the revised rates in place, petrol has now reached Rs 219 per litre in the Kathmandu Valley. Similarly, diesel and kerosene are priced at Rs 207 per litre.
The price of a cooking LPG cylinder has reached Rs 2,010. Likewise, domestic aviation fuel has been fixed at Rs 257 per litre.
The government claims that despite offering a 50 per cent exemption on customs duties and infrastructure development taxes, the losses did not reduce, necessitating the price hike.
The NOC claims it will fortnightly incur a loss of approximately Rs 7.81 billion fortnightly despite today’s price increase. RSS