NOC deducts price of petroleum products

KATHMANDU, Jan 18.  The Nepal Oil Corporation (NOC) has reduced the price of petroleum products on Sunday.

NOC reduced the price of petrol, diesel and Kerosene by Rs 2 each, according to NOC Spokesperson Mukunda Ghimire.

As per the revised rate, petrol will now cost Rs 111.50 per liter, while diesel and kerosene will be charged at Rs 88 per liter. The state-owned oil monopoly reduced price of petroleum products as per the automatic pricing mechanism adopted by the government.This is the seventh time that the NOC has reduced the price of petroleum products since the automated pricing system was enforced.

According to the mechanism, the prices of petroleum products get changed following the revision by Indian Oil Corporation (IOC) every fortnight.