Kathmandu: Nepal Oil Corporation (NOC) has again increased the price of petroleum products.

The corporation has decided to increase the retail price of petrol and diesel and kerosene by Rs.2 effective from today mid-night.

The NOC was forced to increase the petro price after Indian Oil Corporation (IOC) has sent a new rate for petro products.

According to the price list received from the IOC, the price of petrol in Nepal has been fixed at Rs 116 per liter, diesel and kerosene at Rs 99, domestic aviation fuel at Rs 72 per liter and external aviation fuel at US$ 893 per kiloliter.

The price of LP gas has been kept unchanged.

Even after the new price adjustment, the corporation will have to bear Rs. 8.42 per liter for petrol, Rs. 6.56 for diesel and Rs. 392.82 for LP gas. Stating that it has a deficit of nearly Rs.1.32 billion in fortnight, the corporation has stated that such deficit amount has been managed from the price stabilization fund and the accumulated profit of the corporation.