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NOC increases price of petroleum products

NOC increases price of petroleum products

By THT Online

A petrol pump attendant (L) puts petrol priced at Rs 99 per litre into a car at a Sajha Petrol gas station in Kathmandu, Nepal, January 27, 2016. A dramatic drop in oil prices, driven down by a glut in supply, is translating into a mixed bag for motorists. All countries have access to the same oil prices on international markets, but retail prices vary wildly, largely because of taxes and subsidies. Reuters

KATHMANDU: The Nepal Oil Corporation has increased price of petroleum products which will come into effect from midnight. NOC fixes price of the petroleum products based on price list sent in by the Indian Oil Corporation on 1st and 16th of every month. According to NOC spokesperson Birendra Goit the corporation has increased Rs 2 per litre in petrol, Rs 1.50 per litre in diesel and Rs 25 per cooking gas cylinder. As per the new price, petrol will be available on Rs 100, diesel on Rs 75.50 and cooking gas cylinder on Rs 1350. Nepal has been importing petroleum products from the Indian Oil Corporation.