NOC hikes price of petroleum products «

NOC hikes price of petroleum products

Citing rise of the price of crude oil in the international market, Nepal Oil Corporation (NOC) has hiked the price of fuel on Wednesday.
The government fuel monopoly decided to increase Rs 1 per liter on petrol, Rs 2 per liter on diesel and kerosene. After the hike, the price of petrol cost Rs 102, and diesel and kerosene Rs 81 per liter. However, the price of cooking gas and aviation fuel has not been changed.
The NOC took the decision to hike the price of petroleum products after its supplier Indian Oil Corporation (IOC) increased the rate.
Even with the increase in the price of petroleum products, the NOC has to bear the loss of Rs 3.53 per liter on diesel. It has to bear Rs 190 million loss per fortnight month with the new rate, the NOC stated.
This is the second time NOC has hiked the fuel prices within an interval of two weeks. Earlier, the NOC had hiked the fuel prices on January 2.