Nepal Oil Corporation (NOC) has announced a reduction in fuel prices, with petrol lowered by Re1 per litre, and diesel and kerosene by Rs3 per litre each. The new rates will come into effect from Thursday midnight.

The price revision follows a new rate list sent by Indian Oil Corporation (IOC), NOC’s sole supplier, the corporation said.

As per the updated pricing, petrol will now cost Rs157 per litre in the Kathmandu Valley, while both diesel and kerosene will be priced at Rs142 per litre.

According to NOC spokesperson Manoj Thakur, the adjustment reflects recent changes in the international market and is intended to ease the financial burden on consumers.