NOC slashes fuel prices by Re 1 per litre

KATHMANDU: Nepal Oil Corporation (NOC) has decreased the prices of petrol, diesel and kerosene by Re 1 per litre with effect from January 15, 2024.

According to NOC, the state-owned trading enterprise that imports, stores and distributes petroleum products, price of petrol has been fixed at Rs 166 per litre. Likewise, diesel and kerosene are traded at Rs 156 per litre. However, prices of liquefied petroleum gas (LPG) and aviation turbine fuel (ATF) have remained constant.

The price of petrol is fixed at Rs 166 per litre in Kathmandu, Pokhara and Dipayal, and Rs 165 in Dang and Surkhet. Likewise, the price of petrol is fixed at Rs 163.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi and Birgunj, and Rs 153.5 per litre for diesel and kerosene in those depots.

Due to the drop in prices in Indian markets, local prices also adjusted. In the international markets, prices were supported by fears of disruption in the Middle East as numerous shipping operators steered clear of the Red Sea and Suez Canal. However, concerns over limited demand also factored in due to growing fears of weakening global economic conditions in the coming months.