Nepal Oil Corporation (NOC) announced cuts in the prices of petroleum products on Friday, January 2, 2015.
A meeting of NOC’s board on Friday decided to cut the price of petrol by Rs 2.50 per litre, and those of diesel and kerosene by Rs 2 per litre.
After the cuts, petrol will cost Rs 113.50 per litre while diesel and kerosene will cost Rs 90 per litre, according to NOC.
The government-owned sole importer of petroleum for Nepal had decreased the rates by Rs 7 per litre for petrol and by Rs 5.50 per litre for diesel and kerosene on December 19, 2014. Before that, petrol retailed at Rs 123 per litre while diesel and kerosene used to be sold at Rs 97.50 per litre.