Nepal Oil Corporation announces price reduction for Petrol, Diesel, and Kerosene

KATHMANDU: Nepal Oil Corporation (NOC) has announced a reduction in the prices of petrol, diesel, and kerosene, effective from Saturday. This decision was made during a meeting of the NOC Board of Directors on Friday.

The new prices will see petrol reduced by Rs 3 per liter, while diesel and kerosene will both see a reduction of Rs 1 per liter. This adjustment follows a decrease in purchase prices from Indian Oil Corporation (IOC).

The price cut also includes a Rs 1 per liter green tax, which was introduced by the government in the latest budget. According to NOC, the purchase price of petrol from IOC has decreased by Rs 4.42 per liter, and the price of diesel and kerosene has decreased by Rs 2.45 per liter.

This reduction in fuel prices is expected to provide some relief to consumers and is a reflection of the decreased international oil prices. The NOC’s decision aligns with the recent changes in the cost structure provided by its Indian counterpart, ensuring that the benefits are passed on to the end-users in Nepal.