NOC slashes fuel prices

- POST REPORT, Kathmandu
NOC slashes fuel prices

Oct 19, 2014-

Nepal Oil Corporation slashed oil prices on Sunday, for the first time since it adopted auto pricing in the fuel sector two weeks ago. An NOC board meeting lowered the price of petrol by Rs 2.59 per litre while prices of diesel and kerosene were cut by Rs 2.06 per litre with effect from Sunday midnight, according to NOC spokesman Mukunda Ghimire.

The state-owned oil monopoly, however, kept the price of aviation fuel and liquefied petroleum gas unchanged. Petrol will now be available at Rs 130.47 per litre while diesel and kerosene will cost Rs 103.17 per litre in Kathmandu. Per litre price in Tarai will be less by Rs 1.50.

As a result, NOC profits will fall to Rs 217.9 million for October while it would earn Rs 476.9 million from the earlier prices. LPG continues to be a loss-making business for the company.

Published: 20-10-2014 08:56

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment