KATHMANDU: The Indian Oil Corporation (IOC) has sent a new price list of petroleum products to Nepal Oli Corporation (NOC) by reducing prices after the price of crude oil fell in the international market.
This is the second time NOC received reduced fuel prices following adjustment by IOC.
According to the new price list received on Monday, diesel is cheaper by Rs 12.45/liter and petrol by Rs 16.80/per liter.
The IOC had also reduced the price of petrol by Rs 15.76/liter and diesel by Rs 16.50/liter a fortnight ago.
Though slashed fuel prices were received from India earlier, the NOC had not slashed prices in the country.
According to NOC, if the price is not reduced even now, then it would secure a profit of around Rs 2/liter in petrol. However, it would still incur loss of around Rs 10/liter in diesel.