Kathmandu: Nepal Oil Corporation has increased fuel prices once again, citing continued fluctuations in international petroleum markets.

A meeting of the corporation’s Board of Directors decided to raise the price of petrol by Rs 17 per liter, while diesel and kerosene have been increased by Rs 25 per liter each. The new rates came into effect from 12 midnight on Thursday.

Cooking LPG gas prices have also been increased by Rs 100 per cylinder, and domestic aviation fuel has gone up by Rs 6 per liter.

New Fuel Prices (Kathmandu Valley)
-Petrol: Rs 219 per liter
-Diesel/Kerosene: Rs 270 per liter
-LPG Gas: Rs 2,010 per cylinder
-Aviation Fuel (Domestic): Rs 257 per liter

The corporation stated that the price hike was necessary as its financial losses have not decreased despite the government providing a 50 percent discount on customs duty and infrastructure development tax.

Even after the latest adjustment, NOC estimates a fortnightly loss of around Rs 7.81 billion.

The continued rise in fuel prices is expected to put additional pressure on household expenses and contribute to inflation in the broader market.