PoL products become dearer: Cooking gas price up by Rs 25

Kathmandu, Nov.1: The Nepal Oil Corporation (NOC) has increased fuel price under the auto pricing system effective from Wednesday midnight.

Price of petrol was increased by Rs. 2 per litre, while the diesel and kerosene were up by Rs. 1.5 per litre.

With the new adjustment, petrol now cost at Rs. 100 per litre, diesel and kerosene will be charged at Rs. 75.50 per litre in the Kathmandu Valley.

Likewise, the NOC increased the prices of cooking gas by Rs. 25 per cylinder. Now, the cost of per cylinder of cooking gas will at Rs. 1,350.  Price aviation fuel, however, remain unchanged.

The meeting of board of directors at NOC held Wednesday evening took the decision to increase fuel price as per auto pricing system based on the new price structure received from Indian Oil Corporation (IOC) today itself, said Birendra Goit, spokesman at NOC.

Earlier, NOC had adjusted price of petroleum products on July, 2, 2017.

Goit said that the NOC would adjust price of aviation fuel at the earliest.

According to him, NOC is making profit of Rs. 19.7 million fortnightly with the adjustment of fuel prices.

After adjusted price, the NOC is making profit of Rs. 5.30 per litre on petrol and Rs. 16.42 per litre on kerosene.

NOC, however, facing a loss of Rs. 0.75 per litre on diesel and Rs. 215.80 per cylinder of cooking gas, he said.

The NOC did not adjust fuel prices for the last few months owing to the festivals.