Nepal Oil Corporation (NOC) has reduced the prices of petroleum products, effective from midnight on Wednesday. The new rates include a Rs 2 per liter reduction in petrol prices, while diesel and kerosene prices have each been decreased by Rs 1 per liter. Additionally, the price of domestic aviation fuel has been lowered by Rs 4 per liter.
The decision comes even as the NOC continues to face a significant financial burden, with reported losses still amounting to around Rs 50 billion. The move is aimed at easing the cost burden on consumers, though it raises questions about how the corporation will manage its long-standing financial challenges.
