KATHMANDU, Nov 2: The Nepal Oil Corporation (NOC) has withdrawn its decision to raise the price of petroleum products following the prime minister’s direction.

NOC on Wednesday had decided to hike the price of petroleum products to adjust with the new price of international petroleum market.

NOC had fixed, with the new price adjustment, Rs 100 per liter for petrol, Rs 75.50 for diesel and kerosene and Rs 1350 for LP gas.

Following NOC’s decision, PM Sher Bahadur Deuba had directed the NOC not to implement its decision saying that such unpopular decision would affect the election environment.

“An emergency meeting of board of directors took the decision to withdraw new price adjustment, “said NOC spokesperson Birendra Goeit.

“The petroleum products will be sold in older price effective from 10 pm today,” he added.

Now, the petroleum products will be sold at older price, which is- Petrol Rs 98 per liter, diesel and kerosene Rs 74 per liter and cooking gas at Rs 1325 per liter.

NOC raises price of petroleum products