Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Nepal Oil Corporation (NOC) has increased the price of petroleum products. The increment was reportedly made after the NOC failed to pay the regular instalment to Indian Oil Corporation (IOC), from where it purchases fuel.
The meeting of the NOC board of directors has increased the price of petrol by Rs 8 per litre and diesel/kerosene by Rs 12 per litre with effect from this midnight.
With the latest price hike, the retail price of petrol has gone up to Rs 178 per litre and diesel/kerosene to Rs 165 per litre. The price of cooking LP gas and aviation fuel remains unchanged.
Spokesperson of NOC Binit Mani Upadhyaya said that the price had to be increased due to the high price of petroleum products in the international market and the arrears due to the IOC.
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