The Nepal Oil Corporation (NOC) has raised petrol prices effective Sunday midnight. The increase is a substantial Rs4 per liter, resulting in consumers now paying Rs175 per liter in Kathmandu, Pokhara, and Dipayal. Prices in other major cities like Surkhet, Dang, and Birgunj are slightly lower.
The NOC cites the automatic fuel price mechanism, which bases prices on tariffs received from its supplier, the Indian Oil Corporation (IOC), as the reason for the increase. Despite IOC lowering diesel, kerosene, and LP gas prices, the board of directors chose to maintain current cooking gas cylinder costs due to ongoing losses.
