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NOC Hikes Prices of Petroleum Products

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NOC Hikes Prices of Petroleum Products
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February 3: Nepal Oil Corporation (NOC) has increased the prices of petroleum products effective from Sunday, February 3. As per the new price adjustment coming into effect from midnight, petrol will cost Rs 110 per litre. Rastriya Samachar Samiti (RSS) reported that the price of petrol has been increased by Rs 2.25 per litre. Likewise, price of diesel has surged by Rs 4.28 to Rs 97 per litre. Kerosene's price has been adjusted to Rs 97 per litre. The NOC has not increased the price of cooking gas, however.

NOC Spokesperson Birendra Goit said that the price adjustment follows the government's provision to adjust price of petroleum products every fortnight. He further said that the state-run oil monopoly decided to hike the price after receiving a new price list from the Indian Oil Corporation on February 1.

“NOC however missed the price adjustment the previous time due to various reasons,” RSS quoted Goit as saying.

With the new price adjustment, the state-owned oil corporation could earn a profit of approximately Rs 1.16 billion in a period of 15 days, said an NOC official.

 

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