NOC hikes fuel price again; petrol costs Rs 178 per litre

KATHMANDU: The Nepal Oil Corporation (NOC), a state-owned trading enterprise that imports, stores and distributes petroleum products, has increased price of petroleum products. The fuel price has been increased after the NOC failed to pay the regular instalment to Indian Oil Corporation (IOC), from which it purchases fuel. The meeting of the NOC board of directors increased the price of petrol by Rs 8 per litre and diesel/kerosene by Rs 12 per litre with effect from Thursday 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. The NOC had slashed the price of petrol, diesel and kerosene by Rs 10 per litre on June 2 after the government directed the enterprise for the price adjustment equal to infrastructure tax on petroleum products. READ ALSO:

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• NOC hikes fuel price by Rs 10 per litre; petrol costs Rs 170 per litre