Money

NOC slashes fuel prices

- Post Report, Kathmandu

Aug 3, 2016-

Nepal Oil Corporation (NOC) has slashed fuel prices, effective from Tuesday night.

Prices of petrol, diesel and kerosene have been reduced by Rs2 per litre each. With this, petrol now costs Rs97 per litre and diesel and kerosene each costs Rs73 per litre. The price of liquefied petroleum gas (LPG) has been slashed by Rs25 per cylinder to Rs1,375 per cylinder.

NOC has also revised the price of Aviation Turbine Fuel (ATF) sold to domestic airlines to Rs89 per litre from Rs99 per litre, while the fuel sold to international airlines now costs $781 per kl from $881 per kl.

NOC Spokesperson Mukunda Ghimire said the fuel prices were revised in the line with the price list forwarded by Indian Oil Corporation, NOC’s sole supplier.

International oil prices have fallen significantly over the past year, and as a result, NOC has been making huge profits. It became debt-free after 14 years in July, after it repaid Rs1.41 billion to the government.

Fuel Price Revision

  • Product                  New Rate
  • Petrol                     Rs97 per litre
  • Diesel                    Rs73 per litre
  • Kerosene             Rs73 per litre
  • LPG                      Rs1,375 per cylinder

Jet fuel Rs89 per litre for domestic airlines $781 per kl for int’l airlines

Published: 03-08-2016 08:59

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