Kathmandu. Nepal Oil Corporation (NOC) has jacked up the prices of petroleum products. Stating that the price of petroleum products is fluctuating in the international market, the NOC has increased the price of petroleum products.

The Nepal Oil Corporation (NOC) has increased the prices of petrol, diesel, kerosene, cooking LP gas and aviation fuel to be effective from this midnight. A meeting of the NOC Board of Directors on Tuesday decided to increase the price of petrol by Rs 17 per litre while diesel and kerosene by Rs 25 per litre.

Likewise, the price of cooking gas has been increased by Rs 100 per cylinder. The price of aviation fuel (domestic) has been increased by Rs 6 per litre.

As per the new price list, petrol will now cost Rs 219 per litre in Kathmandu Valley. Similarly, the price of diesel and kerosene will be Rs 207 per litre. The price of cooking gas has been increased to Rs 2,010 per cylinder. Likewise, the price of aviation fuel (domestic) has been increased to Rs 257 per litre.

Although the government has given 50 percent discount on customs duty and infrastructure development tax, it has been forced to increase the tariff as the deficit has not been reduced. Even after today’s price hike, the corporation will incur a loss of around Rs 7.81 billion on a fortnightly basis.