Nepal Oil Corporation (NOC) has slashed the prices of petroleum products on Wednesday.

The state-owned monopoly said that the prices of petrol, diesel and kerosene have been slashed by Rs2 per litre. The new price will be effective from Wednesday midnight.

Following the price cut, petrol will now cost Rs108 per litre, while diesel and kerosene will cost Rs97 per litre each. The NOC, however, has not revised the price of aviation fuel and Liquefied Petroleum Gas (LPG).

NOC attributed the recent price drop to falling fuel prices in the international market.

Earlier on December 3, the NOC had slashed the prices of petrol, diesel and kerosene by Rs2 per litre.