KATHMANDU: The Nepal Oil Corporation (NOC) has increased the price of petroleum products again on Wednesday.
According to Binit Mani Upadhyaya, spokesperson of the Corporation, the price of petrol, diesel and kerosene has been increased by Rs 2 per liter with effect from midnight today.
According to the new price, petrol has reached Rs 118 per liter while diesel and kerosene have reached Rs 101 per liter.
Similarly, the domestic price of aviation fuel has also increased by Rs 2 to Rs 74 per liter. The retail price of LP gas and aviation fuel for cooking has been kept unchanged.
Even after the price hike, the corporation has incurred a loss of Rs 9.35 per liter on petrol, Rs 5.80 per liter on diesel and Rs 392.82 per cylinder on cooking LP gas. On that basis, it has been claimed that the corporation has a loss of Rs. 1.27 billion on a semi-monthly basis. The deficit amount will be managed from the price stabilization fund and the accumulated profit of the corporation, Upadhyaya said.
The corporation has stated that it has adjusted the price as per the price received from Indian Oil Corporation today.
Earlier, petrol was being sold at Rs 116 per liter, diesel and kerosene at Rs 99 per liter.