Nepal Oil Corporation has reduced the price of petroleum products, effective from Friday midnight.

The corporation has slashed the price of petrol by Rs3 per litre and that of diesel and kerosene by Re1 per litre.

As per the new adjusted price, petrol will cost Rs168/litre and diesel and kerosene will cost Rs153/litre in Kathmandu, Pokhara and Dipayal.

In Surkhet and Dang, consumers will have to pay Rs167 for a litre of petrol, while the price of diesel and kerosene will be Rs152 per litre.

Likewise, petrol will cost Rs165.5 for a litre in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj while diesel will be 150.5 per litre.

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

The oil monopoly announced that the price of petrol has decreased by Rs4.42 per litre, while diesel and kerosene prices have decreased by Rs2.45 per litre, as per the tariff from the IOC.

The price of LP gas and aviation fuel have remained unchanged.