KATHMANDU, March 17: The Nepal Oil Corporation (NOC) has reduced the price of petrol and diesel/kerosene each by Rs 2 per liter.
The meeting of the NOC held on Monday, has decided to revise the price of petrol and diesel/kerosene. With the revised price that has come into effect from Monday, the new price of petrol is Rs 106 per liter whereas the price of diesel and kerosene is Rs 97 per liter and the price of aviation turbine fuel is Rs 90 per liter.
Soaring fuel prices (with video)
The reason behind the decrease in price of fuel is due to the widespread outbreak of the coronavirus and the conflict between Saudi Arabia and Russia over oil price strategy.
Kathmandu valley has been facing shortage of petroleum products as fuel entrepreneurs have not been willing to sell the petroleum products at lower prices. Petrol pumps operated by Nepal Army, Nepal Police and Sajha Cooperatives saw long queues while most of the private petrol pumps were closed.
