Nepal Oil Corporation (NOC) has reduced the price of petroleum products, effective from Saturday midnight.

The corporation has slashed the price of petrol by Rs2 per litre and that of diesel and kerosene by Re1 a litre.

As per the adjusted price, petrol will now cost Rs163 per litre and diesel and kerosene will cost Rs154 a litre in Kathmandu, Pokhara and Dipayal.

In Surkhet and Dang, consumers will have to pay Rs162 for a litre of petrol, while the rate of diesel and kerosene will be Rs153 per litre.

Likewise, petrol will cost Rs160.5 for a litre in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj while diesel will be Rs151.5 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 (IOC).

The price of aviation fuel (domestic) has been reduced by Rs5 per litre whereas the aviation fuel (international) has been deducted by US $37 per kilo litre. According to Nepal Oli Corporation, the price of LP Gas has remained unchanged although Indian Oil Corporation has increased the gas by Rs35.11 per cylinder.