The Nepal Oil Corporation has decreased the prices of petrol, diesel and kerosene. The corporation slashed the fuel prices effective from Wednesday midnight.

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

According to the new tariff list sent by Indian Oil Corporation on Wednesday, the petrol price has decreased by 98 paisa per litre and diesel has decreased by Rs2.28 per litre.

A meeting of the NOC Board decided to slash the price of petrol by Re1 per litre and diesel and kerosene by Rs2 per litre.

Consumers must now pay Rs170 per litre for petrol and Rs158 per litre for diesel and kerosene in Kathmandu, Pokhara and Dipayal.

They have to pay Rs169 for petrol and Rs157 for diesel and kerosene per litre in Surkhet and Dang and it will cost Rs167.50 for petrol and Rs155.50 for diesel and kerosene in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj.

The corporation has announced that the prices of cooking gas cylinders and aviation turbine fuel will remain unchanged.