KATHMANDU, Feb 1: The Nepal Oil Corporation (NOC) has increased the price of petroleum products on Thursday citing the rise in the price of crude oil in the international market.
According to Birendra Goit, spokesperson of NOC, the corporation has increased Re 1 per liter in petrol, Rs 2 per liter in diesel and kerosene, Rs 5 per liter in Air Turbine Fuel (ATF) for domestic and $ 100 per kiloliter for international. The newly increased price will come into effect from Thursday midnight.
NOC hikes petroleum prices by a notable amount
Now the cost of petrol will be Rs 104, diesel and kerosene will be Rs 83 and ATF (domestic) will be Rs 95 per liter. However, the NOC has unchanged the price of Liquefied Petroleum Gas (LPG).
NOC has adopted automatic pricing system to adjust the price of petroleum products according to the international price. NOC Spokesperson Goit said that they decided to hike the price following the price increment of crude oil in international market.
The corporation had increased the price of petroleum products on January 18. Goit informed that NOC still has loss of Rs 149.2 million in these fifteen days.
