Nepal Oil Corporation (NOC) has reduced the prices of petroleum products to be effective from Monday midnight.

At the revised rates, petrol will now be cheaper by Re 1 per liter and diesel and kerosene each by Rs 2 per liter. Likewise, the cost of aviation fuel for domestic flight has been reduced by Rs 6 per liter and that of international flight has been reduced by US $45 per kiloliter.

According to the NOC, the price rates of the fossil fuels have been reduced in line to the revised rates sent by its supplier Indian Oil Corporation on Monday.

In the new development, petrol will cost Rs 155.50 per liter in Chaaraali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj. Diesel and kerosene will cost Rs 144.50 per liter in these areas.

In Surkhet and Dang, petrol will cost Rs 157 per liter whereas diesel and kerosene will cost Rs 146 per liter. In Kathmandu, Pokhara and Dipayal, these products will be priced Rs 158 per liter and Rs 147 per liter, respectively.

Similarly, the NOC has fixed the price of aviation fuel for domestic use at Rs 126 per liter. Likewise, the price of fossil fuel for international flight at Tribhuvan International Airport has now become US $960 per kiloliter, while the airlines conducting international flights from Pokhara and Bhairahawa international airports will have to pay US $860 per kiloliter.