Petrol cheaper by Rs 7 per liter

KATHMANDU, Dec 20: Nepal Oil Corporation (NOC) on Friday reduced price of petrol by Rs 7 per liter, and diesel and petrol by Rs 5.30 liter each.

With the fresh adjustment in prices, petrol will be available at Rs 117 per liter, while diesel and kerosene will retail at Rs 92 per liter each. Similarly, price of Air Turbine Fuel (ATF) has been lowered by Rs 10 per liter to Rs 133.

Mukunda Ghimire, spokesperson of NOC, said fuel prices were adjusted on the basis of prices forwarded by Indian Oil Corporation (NOC).IOC had reduced petrol and diesel prices in India by two percent each on Monday. The Indian supplier reviews export prices of petrol, diesel and kerosene every fortnight, and ATF and LPG on a monthly basis.

Though NOC was supposed to revise fuel prices on Wednesday, it had deferred the plan as the automatic fuel pricing mechanism allows it to revise prices by only two percent.

“Fuel prices have come down significantly this time as the price of crude oil has decreased significantly in the international market. Also, the Prime Minister had instructed us to reduce prices so that people can benefit from drop in global fuel prices," Devi Prasad Baral, a board member of NOC, told Republica.

Meanwhile, students´ unions had submitted a joint memorandum to Prime Minister Sushil Koirala on Thursday, demanding revision in public transport fares in line with falling oil prices.

Responding to the students, the Prime Minister said he had already directed the concerned ministry to adjust public transportation fares.

On Monday, Prime Minister Sushil Koirala had directed Minister for Commerce and Supplies Sunil Bahadur Thapa to do the needful for reducing prices of petroleum products in line with the falling global prices.

Source:myrepublic.com