KATHMANDU, JULY 16

The government will be implementing the Automatic Pricing System in petroleum products effective from this midnight.

Nepal Oil Corporation informed the APS would be enforced for petrol, diesel and LGP cylinder. Secretary at MoICS, Madhu Kumar Marasini, said in a press meet that the meeting of the NOC's Board of Directors today decided to this effect in view of the interest of consumers.

Marasini expressed confidence that the public and entrepreneurs would get some relief with this decision.

The decision, however, will not be applicable to the price of aviation fuel.

'In the case of aviation fuel, there will be the same arrangement as before,' informed Secretary Marasini.

According to the APS, the retail price of petrol has been slashed by Rs 6 per litre, diesel by Rs 4 per litre and LPG gas cylinder by Rs 100.

With the APS in place, the new price of petrol is Rs 164 per litre and Rs 164 per litre for diesel in the Kathmandu Valley. The price of these two petroleum products, however, could vary in other places, according to the MoICS.

The new price of one LPG cylinder has come down to Rs 1,700 from Rs 1,800, it was shared. The APS was brought into effect after the NOC made due payment of Rs 31 billion to the Indian Oil Corporation, it was informed.

Similarly, out of Rs 7 billion loan obtained by the NOC from the government of Nepal last year, Rs 3.5 billion is due. It still has a debt of Rs 29 billion in total.

A version of this article appears in the print on July 17, 2023, of The Himalayan Times.