Nepal Oil Corporation (NOC) has announced a reduction in the retail price of petrol by Rs 2 per litre, offering relief to consumers ahead of the festive season.

The new rates came into effect across the country from today.

According to NOC, the prices of diesel and kerosene remain unchanged. With the latest revision, petrol will now cost Rs 159 per litre in Kathmandu Valley, Pokhara, and Dipayal; Rs 158 in Surkhet and Dang; and Rs 156.50 in other parts of the country.

The corporation said the decision was made to ease the financial burden on consumers during the major festivals. “Although prices from the Indian Oil Corporation (IOC) have increased, NOC decided to lower the rates to stabilize prices and reduce the impact of inflation during the festive period,” the company stated in a press release.

NOC has been adjusting fuel prices in line with international crude oil fluctuations.

The latest price cut is expected to provide significant relief to millions of consumers, particularly those traveling and using petrol frequently during Dashain and Tihar.