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

A meeting of the NOC board of directors held on Tuesday increased the price of petrol, diesel and kerosene by Rs 5 per liter. With this, the price of petrol has now reached Rs 160 per liter. Similarly, the retail price of diesel and kerosene has been fixed at Rs 143 per liter.

Similarly, the price of cooking gas has been increased by Rs 25 per cylinder to Rs 1,600.

According to NOC, the price of aviation fuel has been increased by Rs 5 to Rs 156 per liter for domestic aircraft whereas the fuel for aircrafts used in international flights rose by US dollar 50 per kiloliter to USD 1,545.

Stating that the price of fuel is dearer in the international market and NOC has been incurring losses worth billions of rupees every month, the corporation issued a fresh price list of petroleum products effective from Tuesday midnight.