Nepal Oil Corporation has increased the price of petrol and diesel.

The corporation has increased the price of petrol and diesel effective from 12 midnight on Tuesday as per the automatic fuel price mechanism.

In Nepal, under the automatic fuel price mechanism, the corporation set prices based on the tariff it receives from its sole supplier Indian Oil Corporation.

Indian Oil Corporation reviews export prices of petrol and diesel/kerosene every fortnight and of other products such as aviation fuel and LPG on a monthly basis.

According to the new tariff list sent by Indian Oil Corporation on Sunday, the price of petrol has increased by Rs 8.14 per litre while diesel has increased by Rs 6.86 per litre.

With the auto price system in place, the cost of petrol has increased by Rs 9 per litre to Rs 173. Diesel has also become costlier by Rs 7 per litre and will now cost Rs 153 per litre. The price of cooking gas has come down by Rs130 per cylinder to Rs1,660.