Nepal Oil Corporation slashes fuel prices

KATHMANDU: Nepal Oil Corporation (NOC) has announced a reduction in the prices of diesel, petrol, and kerosene by Rs 3 per liter.

In a statement released on Friday evening, the government-owned oil monopoly revealed that the adjusted prices will be effective from December 16.

Under the updated pricing structure, petrol will be priced at Rs 167 per liter in the Kathmandu valley, with the rate set at Rs 164 per liter in border areas. Similarly, both diesel and kerosene will now be available at Rs 157 per liter in the valley and Rs 154 per liter in border regions.

Notably, there is no change in the price of liquefied petroleum gas.

NOC justified the price reduction, citing the receipt of a new price list from the Indian Oil Corporation, the exclusive supplier to Nepal’s state-owned oil company.