The Nepal Oil Corporation has slashed the prices of petroleum products—petrol, diesel and kerosene—by Rs3 per litre. The new rates will come into effect from Saturday.

Under the new tariff, petrol will now cost Rs178 per litre while diesel and kerosene each cost Rs175.

The state-owned monopoly reduced the prices after the Indian Oil Corporation sent a new price list reducing the price of fuel. As per a revised rate sent by IOC on Friday, the price of petrol has come down by Rs6.90 per litre, diesel by Rs12.31 and aviation turbine fuel by Rs10.61.

Binitmani Upadhyay, spokesperson for NOC, said the prices of aviation fuel and LP gas have remained unchanged.