Kathmandu: The Nepal Oil Corporation (NOC) has announced a revision in the prices of petroleum products, resulting in an increase in the prices of petrol, diesel, and kerosene. The price adjustments were made in response to India's decision to raise the prices of petroleum product supplies to Nepal. The new prices will take effect from midnight.

The price of petrol has been increased by Rs 9 per liter, while both kerosene and diesel have witnessed an increase of Rs 7 per liter. Following the adjustment, the price of petrol will now be Rs 170 per liter in group A, Rs 172 per liter in group B, and Rs 173 per liter in group C. Diesel and kerosene will be priced at Rs 150 per liter in group A, Rs 152 per liter in group B, and Rs 153 per liter in group C.

On a positive note, the price of liquefied petroleum (LP) gas cylinders has been reduced by Rs 130, bringing the cost down to Rs 1,660 per cylinder. This reduction will be welcomed by consumers as it eases their financial burden.

The changes in petroleum product prices are expected to impact various sectors of the economy and the daily lives of Nepalese citizens. As the NOC cites India's price increase as the reason behind this adjustment, it reflects the interconnectedness of both countries' energy markets.

Consumers in Nepal will have to adapt to the new prices, and businesses may face some challenges due to the increased costs of transportation and production. However, the reduction in LP gas cylinder prices should provide some relief to households and businesses reliant on this energy source.

Overall, these price adjustments underscore the importance of closely monitoring international developments that can influence Nepal's energy prices and highlight the need for energy diversification strategies in the country.