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World

NOC Increases Prices of Petroleum Products

The Nepal Oil Corporation (NOC) has increased fuel prices effective from Sunday, November 16. A meeting of the NOC Board of Directors on Saturday took the decision to hike fuel prices. According to the NOC, prices of diesel and kerosene have been increased by Rs 3 per litre while the price of petrol has been hiked Rs 2 per litre. Consumers in Kathmandu, Pokhara and Dipayal will now pay Rs 161 per litre for petrol and Rs 147 per litre for diesel and kerosene. Similarly, the price of petrol has been fixed at Rs 160 in Surkhet and Dang; and Rs 158.50 in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi, and Birgunj. The NOC fixes prices of petroleum products based on the price list provided by the Indian Oil Corporation (IOC), its sole supplier. Despite an increase in the prices charged by IOC, NOC stated that it has maintained stability in the retail price to minimize the burden on consumers during the festive season, ensure price stability, and maintain an uninterrupted supply of petroleum products across the country. Prices of diesel and kerosene remain unchanged. NOC classifies areas within 15 km of its depots in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi, and Birgunj as the first category; Surkhet and Dang as the second category; and Kathmandu, Pokhara, and Dipayal as the third category and fixes the prices accordingly.