Price Hike: Nepal Oil Corporation Raises Petrol and Diesel Prices

Nepal Oil Corporation (NOC) has recently implemented a price increase for petrol and diesel, causing ripples in the local market.

According to sources within the corporation, a board meeting held on Tuesday evening concluded with a unanimous decision to adjust the pricing structure. Diesel and kerosene experienced a steep hike of Rs. 14 per liter, while petrol saw a more moderate increase of Rs. 5 per liter.

This decision has propelled the cost of petrol to Rs. 175 per liter for consumers, marking a significant change. Meanwhile, the prices of diesel and kerosene have surged to Rs. 164.5 per liter, introducing a substantial burden on the populace.

The move has sparked concerns among citizens and various stakeholders, as these changes could potentially have far-reaching implications for the local economy. The adjustments come in response to a complex web of factors, including global market dynamics and domestic economic conditions.

As the country grapples with the repercussions of this price alteration, debates about its impacts on daily life, transportation, and overall inflation are likely to take center stage in the coming days.