The Nepal Oil Corporation has increased the price of petrol, diesel and kerosene. The petrol price has been hiked by Re1 per litre while the diesel and kerosene have gone up by Rs4 per litre.

According to the NOC, the new prices will be effective from 00.01 am on Wednesday.

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

Indian Oil Corporation reviews export prices of petrol and diesel/kerosene every fortnight and of other products such as aviation fuel and LPG on a monthly basis.

After receiving a new tariff from the Indian Oil Corporation (IOC), the NOC held a meeting and decided to increase the price of petrol by Re1 per litre and diesel and kerosene by Rs4 per litre in the Nepali market.

Consumers will now have to pay Rs159 per litre for petrol and Rs151 per litre for diesel and kerosene in Kathmandu, Pokhara and Dipayal. They have to pay Rs158 for petrol and 150 for diesel and kerosene per litre in Surkhet and Dang and it will cost Rs156.50 for petrol and Rs148.50 for diesel and kerosene in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj.