Nepal Oil Corporation (NOC) has slashed the prices of petroleum products. A meeting of NOC’s Board of Directors held on Wednesday evening decided to reduce the prices of petrol, diesel and kerosene and aviation fuel, effective from Thursday.

The price of petrol has been decreased by Rs. 4 per litre, while diesel and kerosene prices have been reduced by Rs. 5 per litre each. Similarly, NOC has reduced the prices of aviation fuel.

The price of aviation fuel for domestic flights has been decreased by Rs. 6 per litre, while that for international flights has been reduced by USD 42 per kilolitre.

According to a press statement issued by NOC, the prices of petrol, diesel, kerosene, and aviation fuel were reduced following a decrease in the prices received from the Indian Oil Corporation (IOC) on Wednesday.

The NOC adjusts fuel prices every fortnight based on international market prices.

As per the new price structure, the price of petrol in Kathmandu Valley, Pokhara, and Dipayal (third category) has dropped to Rs. 159 per litre, while diesel and kerosene now cost Rs. 137 per litre each.

Similarly, petrol will now cost Rs. 156.5 per litre in the first category areas -Chaarali, Biratnagar, Janakpur, Amlekhgunj, Nepalgunj, Dhangadhi, and Birgunj - and Rs. 158 per litre in the second category areas of Surkhet and Dang.

Under the revised rates, diesel and kerosene will cost Rs. 134.5 per litre each in the first category areas and Rs. 136 per litre in the second category.

Likewise, the price of aviation fuel for domestic flights has dropped to Rs. 128 per litre.

The NOC said that the prices of aviation fuel for international flights from Pokhara and Bhairahawa have been fixed at breakeven rates.

Accordingly, the price of aviation fuel for international flights has been set at USD 973 per kilolitre for Kathmandu, USD 759 per kilolitre for Bhairahawa, and USD 771 per kilolitre for Pokhara.

Meanwhile, the price of cooking gas has remained unchanged.

Considering the interests of consumers, NOC did not increase the price of cooking gas despite an increase of Rs. 100 per cylinder in the new price list received from IOC, the corporation said.