The Office of the Prime Minister (PMO) and Council of Ministers on Thursday directed Nepal Oil Corporation to reduce fuel prices citing continuous drop in crude oil prices in the international market.

The PMO also ordered Department of Transport Management (DoTM) to reduce fares of public transportation.

A Cabinet meeting on Thursday asked Ministry of Commerce and Supplies to direct NOC to adjust petro prices with international rates as per the auto pricing mechanism. Likewise, the Cabinet asked Ministry of Physical Infrastructure and Transport to direct DoTM to slash the transportation fares.

PMO Spokesperson Uttar Kumar Khattri told the Post that the Cabinet gave such instructions in the wake of plummeting prices of petroleum in the international market and Nepal’s failure to revise the price.