NOC reduces diesel price by Rs 10 per liter and petrol price by Rs 3 per liter

Kathmandu; Nepal Oil Corporation (NOC) on Monday reduced the price of diesel by Rs 10 per liter and that of petrol by Rs 3 per liter.

At the revised prices, petrol now costs Rs 175 per liter while diesel costs Rs 165 per liter. The state oil monopoly has reduced diesel price by a notable amount after a long time period.

Similarly, the NOC has also reduced the price of aviation fuel used in international flight from $ 1.420 to $ 1.350 per liter. The price of aviation fuel used in domestic flight has also been reduced from Rs 170 per liter to Rs 160 per liter. While the price of kerosene has also been reduced by Rs 10 per liter and that of the cooking gas has been left unchanged.  

According to the NOC, it has revised the prices of petroleum products based on the new price lists recently sent by Indian Oil Corporation (IOC). The Indian oil supplier on its new price sent on April 1, has decreased petrol price by Rs 1.74 per liter, diesel by Rs 6.82 per liter and cooking gas by Rs 30 per cylinder.  

After falling in pressure from the general public, the NOC is said to have reduced prices of petroleum this time.  In the past two weeks, the NOC secured profits of Rs 580 million.

The NOC has still been showing the pretext of its outstanding dues for not reducing petroleum prices. According to the public enterprise, it still owes Rs 14 billion to the IOC and the government.