Nepal Oil Corporation Hikes Oil Price

Nepal Oil Corporation (NOC), the state oil monopoly, has hiked the price of petrol, diesel, kerosene, and aviation turbine fuel (ATF).

June 2, 2018, 8:10 p.m.

Nepal Oil Corporation (NOC), the state oil monopoly, has hiked the price of petrol, diesel, kerosene, and aviation turbine fuel (ATF).

According to Birendra Goit, spokesperson of the state oil monopoly, the price of petrol, diesel and kerosene has been increased by Rs 3 each per liter. Likewise, the price of ATF (domestic) has been increased by Rs 5 per liter whereas ATF (international) is increased by $ 75 per kiloliter.

With the new price adjustment, petrol will now cost Rs 113 and diesel and kerosene Rs 95 per liter. Similarly, the airline companies will have to pay Rs 100 per liter for ATF (domestic) and $1,075 per kiloliter for ATF (international). The new price will come into effect from Saturday midnight.

NOC has adopted automatic pricing system to adjust the price of petroleum products according to the international price. Spokesperson Goit said that they decided to hike the price following the price increment of crude oil in international market. He added that the organization will still see the loss of Rs 180 million per fortnight.

Source: My Republica

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