NOC hike petro prices

The state fuel monopoly has increased the price of petroleum products including diesel, petrol and kerosene.

The price of fuel has been increased by Rs 3 per liter to take the retail price of diesel and kerosene at Rs 175 per liter and of petrol to Rs 178 per liter, confirmed a press note issued by the Nepal Oil Corporation (NOC). 

The new price will come into effect from today midnight. The price of aviation fuel and LPG – popularly known as cooking gas – remains unchanged, the press note reads, adding that the price of petroleum products had to be increased due to the increase in the price of petroleum products in India.

A fortnight ago, when the petro price has come down, the state fuel monopoly did not recude the price but the price has been jacked up as soon as the price increased, showing double standard in price adjustment.

The NOC refused to reduce the fuel prices last fortnight, when the price has come down, citing its regular losses. Last year too, the NOC denied decreasing the fuel prices citing losses, though it repeatedly claims to have implemented automated pricing system.