The continuous fall in the prices of fuel in the international market has pushed the fuel price in the domestic market down too. Nepal Oil Corporation (NOC) has – effective from tonight – revised the fuel prices downwards by Rs 2 per litre. "The NOC has reduced the retail prices of petrol, diesel and kerosene by Rs 2 per litre," informed spokesperson of the state utility Birendra Goit. "After the revision, a litre of petrol will now cost Rs 112 while diesel and kerosene will cost Rs 99 per litre," he said, adding that the petrol and diesel are in profit, even after decreasing the price. "However, the NOC still incurs Rs 288 loss in a cylinder of LPG – popularly known as cooking gas – though the corporation is profiting in other petroleum products including petrol, diesel and kerosene.
The NOC revises the price of fuel, according to the price list sent by its sole supplier Indian Oil Corporation (IOC) that sends the price list, twice a month on the first and 15th of the Gregorian calendar.
However, this is the first time, the NOC has reduced the fuel price after the incumbent government led by Prime Minister KP Sharma Oli came to power months ago.
The NOC revises the price of fuel, according to the price list sent by its sole supplier Indian Oil Corporation (IOC) that sends the price list, twice a month on the first and 15th of the Gregorian calendar.
However, this is the first time, the NOC has reduced the fuel price after the incumbent government led by Prime Minister KP Sharma Oli came to power months ago.
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