A sharp protest against price hike in petroleum products has finally pushed the government roll back the decision. Nepal Oil Corporation (NOC) rolled back the decision of hiking the price in petroleum products following an instruction of the cabinet to roll back the price hike. A cabinet meeting was held today to address the public demand of the petro price hike withdrawal.
Public had taken to streets with disruptive demonstrations against the price hike.
As a part of its ongoing efforts to aid repayment of dues to the Indian oil supplier and end the festering fuel shortage in the country, the government had announced hike in the prices of diesel, kerosene and the cooking gas on Monday.
After consulting the line ministries, Nepal Oil Cooperation (NOC) board of directors had taken the decision to hike the price.
The NOC had set new fixing Rs. 61.39 per litre for diesel, Rs. 61 a litre for kerosene and Rs. 1,250 per cylinder for cooking gas in Kathmandu Valley and hilly areas. The price of cooking gas for the Terai belt from Jhapa to Rupandehi districts was fixed at Rs. 1,230.
Price of diesel was hiked by Rs. 5.30, kerosene by Rs. 10 a litre per litre and cooking gas by Rs. 150 per cylinder in the Valley and Rs. 130 for Tarai belt.
In October 2007 also, NOC had increased the price of petrol by nine per cent, diesel by five per cent, kerosene by six per cent and cooking gas by 22 per cent.
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