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

The corporation has slashed the price of petrol by Rs5 per litre and that of diesel and kerosene by Rs3 per litre.

As per the new adjusted price, petrol will cost Rs165 per litre and diesel and kerosene will cost Rs155 per litre in Kathmandu, Pokhara and Dipayal.

In Surkhet and Dang, consumers will have to pay Rs164 for a litre of petrol, and Rs154 for a litre of diesel and kerosene each.

Likewise, petrol will cost Rs162.5 for a litre in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj while diesel will be Rs152.5 per litre.

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

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.