Kathmandu: The Nepal Oil Corporation (NOC) has announced a significant reduction in the prices of petroleum products, including petrol, diesel, kerosene, aviation fuel and cooking LPG, following a fall in international fuel prices.

The decision was taken at a meeting of the Corporation's Board of Directors on Tuesday and comes into effect under the automatic pricing mechanism based on the latest purchase rates received from the Indian Oil Corporation (IOC).

Major Price Reductions Announced
Under the revised rates, the Corporation has reduced the price of petrol by Rs 20 per litre, while diesel and kerosene have become Rs 30 per litre cheaper.

Domestic aviation fuel has been reduced by Rs 40 per litre, while the price of international aviation fuel for Kathmandu has been lowered by US$ 265 per kilolitre.

The price of a 14.2 kg cooking LPG cylinder has also been cut by Rs 100, bringing relief to households across the country.

New Fuel Prices Across the Country

Under the revised pricing structure, consumers in Kathmandu, Pokhara and Dipayal (Category III) will now pay Rs 197 per litre for petrol and Rs 195 per litre for diesel and kerosene. Previously, petrol cost Rs 217 per litre and diesel and kerosene Rs 225 per litre in these areas.

In Category I, which includes Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalubang, Nepalgunj, Dhangadhi and Birgunj, petrol has been fixed at Rs 194.50 per litre, while diesel and kerosene will cost Rs 192.50 per litre.

For Category II, covering Surkhet and Dang, petrol has been priced at Rs 196 per litre, while diesel and kerosene will cost Rs 194 per litre.

Aviation Fuel and LPG Also Cheaper
The new price of domestic aviation fuel has been set at Rs 229 per litre.

For international flights, aviation fuel has been fixed at US$ 1,566 per kilolitre in Kathmandu, US$ 1,100 in Pokhara, and US$ 1,085 in Bhairahawa.

Meanwhile, the retail price of a 14.2 kg LPG cylinder has been reduced to Rs 2,060, down from the previous price of Rs 2,160.

Adjustment Based on International Market

The Nepal Oil Corporation said the latest revision was made under its automatic pricing system after reviewing fluctuations in international petroleum prices and the updated purchase prices received from the Indian Oil Corporation.

The Corporation stated that fuel prices will continue to be adjusted periodically in line with changes in global oil markets and import costs.