KATHMANDU, Nepal–The state-owned oil monopoly Nepal Oil Corporation (NOC) has massively increased the price of petroleum products. A meeting of the corporation’s board held Friday increased the price of petrol by Rs. 10, diesel by Rs. 6 and kerosene by Rs. 6 per litre, to be effective from Friday.
“The corporation is reeling under loses,” NOC states adding it was necessary to increase the prices.
It had jacked up the prices of petroleum products a few days ahead of November 19 Constituent Assembly (CA) polls.
As per the new rates, diesel and kerosene will cost Rs 109 per liter each, while petrol will sell for Rs 140 per liter.
NOC has also raised the price of aviation fuel. Aviation fuel for domestic carrier has become dearer by Rs 6 per litre and fuel for international airlines dearer by $100 per kilo liter.
With the massive hike in price, aviation fuel will cost Rs 143 per liter to domestic airlines while $1,400 per kilo litre for international carriers.
Meanwhile, student unions affiliated to various political parties have protested against the price hike. They warned to organise street-based protests unless and until the government rolls back the price hike.