NOC reduces fuel price further

Following decline of oil price in international market, Nepal Oil Corporation (NOC) on Friday has again reduced the prices of petroleum products.

NOC has reduced the price of petrol by Rs 5 per liter, aviation fuel by Rs 5 per liter and diesel and kerosene each by Rs 1 per liter. After reduction in fuel price, the petrol in Kathmandu valley, will now cost Rs 80.50 per liter, diesel and kerosene will cost Rs 59.50 per liter while aviation fuel will cost Rs 85 per liter.

For the first time, NOC has also reduced the price of cooking gas by Rs 50, making it Rs 1,150 per cylinder, effective from Friday midnight. The new prices were announced after a board meeting of NOC Friday evening.

This is the fourth time that the NOC has reduced the prices of fuel. Reports said that NOC now will make tentative operating profit of Rs 400 million, whereas its current liabilities stand at Rs 15 billion.