Kathmandu: Nepal Oil Corporation (NOC) has announced a reduction in fuel prices following a drop in rates by the Indian Oil Corporation (IOC). The decision came after IOC slashed the price of petrol by Rs 5.30 and diesel by Rs 1.30 on Tuesday.

In response, NOC has reduced petrol prices by Rs 5 and diesel and kerosene by Rs 1 per liter across the country. The new prices are effective immediately.

Revised Retail Prices
Under the revised pricing structure:

Petrol now costs:

-Rs 157.50 per liter (Category I)

-Rs 159 per liter (Category II)

-Rs 160 per liter (Category III)

Diesel and Kerosene now cost:

-Rs 145.50 per liter (Category I)

-Rs 147 per liter (Category II)

-Rs 148 per liter (Category III)

The corporation has categorized prices based on transportation and geographical access.

No Update on LPG Gas
While petrol and diesel prices have been updated, no mention was made regarding Liquefied Petroleum Gas (LPG). According to NOC Spokesperson Manoj Kumar Thakur, the LPG pricing update is expected only on the 30th of every month, in accordance with the corporation’s regular review schedule.

This price cut provides some relief to consumers amid fluctuating global fuel prices and is aligned with NOC’s pricing mechanism, which is largely influenced by IOC—the sole supplier of petroleum products to Nepal.