Nepal Oil Corporation (NOC) has hiked price of petrol by Re1 per litre, diesel and kerosene each by Rs3 per litre and cooking gas by Rs25 per cylinder to be effective from Wednesday midnight.

With the revision in fuAnchorel price, petrol now costs Rs112 per litre, diesel and kerosene each costs Rs98 per litre and cooking gas costs Rs1,400 per cylinder.

Following the new price, NOC now has per litre loss of 36 paisa in petrol, 49 paisa in diesel and kerosene each. According to the enterprise, the loss in cooking gas amounts to Rs309.79 per cylinder. Based on the new prices, NOC’s projected loss will stand at Rs223 million per month.

NOC Spokesperon Birendra Kumar Goit said the enterprise revised the petroleum price due to the soaring fuel price in the international market and the free fall in the value of domestic currency against the US dollar.