Nepal Oil Corporation (NOC) has announced a cut in petroleum product prices, offering welcome relief to consumers grappling with daily expenses. The revised rates came into effect from midnight Tuesday, as per a statement issued by the corporation.
With the new adjustment, the price of petrol has been reduced by Rs 5 per litre, while diesel and kerosene have each become cheaper by Rs 1 per litre.
The price revision follows a recent update from Indian Oil Corporation (IOC)—Nepal’s exclusive fuel supplier. According to the NOC, the IOC’s revised export rates showed a reduction of Rs 5.03 per litre in petrol and Rs 1.30 per litre in diesel, which prompted the latest adjustments in the local market.
The fuel price drop comes amid fluctuating global oil rates and ongoing public concern over the high cost of living. The NOC stated that the decision aligns with its policy of adjusting domestic prices based on changes in import costs from India.
