Kathmandu: Nepal Oil Corporation (NOC) has significantly reduced the prices of petroleum products, providing long-awaited relief to consumers following a decline in international fuel prices and revised import rates received from the Indian Oil Corporation (IOC).
A meeting of the NOC Board of Directors held on Tuesday decided to lower the prices of petrol, diesel, kerosene, aviation fuel and liquefied petroleum (LP) gas under the corporation’s automatic fuel pricing mechanism.
Under the revised price structure, the price of petrol has been reduced by Rs 20 per litre, while diesel and kerosene have become cheaper by Rs 30 per litre. Similarly, the price of domestic aviation fuel has been cut by Rs 40 per litre, international aviation fuel for Kathmandu has been reduced by US$265 per kilolitre, and the price of 14.2-kilogram LP gas cylinders has been lowered by Rs 100 per cylinder.
According to the new pricing schedule, consumers in Kathmandu, Pokhara and Dipayal—classified under the third pricing category—will now pay Rs 197 per litre for petrol and Rs 195 per litre for diesel and kerosene. Previously, petrol was priced at Rs 217 per litre, while diesel and kerosene cost Rs 225 per litre in these areas.
In the first pricing category, covering Charali, Biratnagar, Janakpur, Amlekhgunj, Bhairahawa, Nepalgunj, Dhangadhi and Birgunj, petrol has been fixed at Rs 194.50 per litre and diesel and kerosene at Rs 192.50 per litre. Likewise, in the second category, which includes Surkhet and Dang, petrol will now cost Rs 196 per litre and diesel Rs 194 per litre.
The revised rates also lower the price of domestic aviation fuel to Rs 229 per litre. For international flights, aviation fuel has been fixed at US$1,566 per kilolitre for Kathmandu, US$1,100 for Pokhara, and US$1,085 for Bhairahawa.
Following the latest adjustment, consumers will now pay Rs 2,060 for a 14.2-kilogram cylinder of cooking gas, down from the previous price of Rs 2,160.
NOC stated that the price revision was made in accordance with its automatic pricing mechanism, taking into account fluctuations in international petroleum prices and the latest fuel procurement rates received from the Indian Oil Corporation.
The latest reduction comes after weeks of public pressure on the government and the state-owned oil supplier to pass on the benefits of declining global crude oil prices to domestic consumers. Lower fuel prices are expected to ease transportation costs, reduce production expenses for industries and businesses, and help moderate inflationary pressures across the economy.
