NOC backs from its fuel price hike decision after govt pressure

Kathmandu:  Nepal Oil Corporation (NOC) has backed from its price hiked decision of petroleum products.

The emergency meeting of board of directors of NOC held on Thursday morning has decided to withdraw its price hiked decision after Prime Minister Sher Bahadur Deuba directed the NOC to go back from the decision.

Just on Wednesday evening, the state-owned fuel monopoly had decided to hike the price considering the changes in international market effective from Wednesday midnight.

Following the PM’s order, the NOC will now have to sell the petrol, diesel, kerosene and liquefied petroleum gas LPG on the previous rate from today morning itself.

NOC has increased the price of petrol by Rs. 2 per litre, kerosene and diesel by Rs. 1.5 per litre each and cooking gas by Rs. 25 per cylinder citing to come into effect from Wednesday midnight.