Kathmandu: The price of petroleum products has reached a new record high in the domestic market as the Nepal Oil Corporation increased the price from midnight.
Issuing a statement, the state-owned oil monopolist said that the price of petrol, diesel, aviation turbine fuel, and liquefied petroleum gas (LPG) has been increased from midnight owing to the losses incurred on sales.
With the revision, the price of petrol is set at Rs 160 per liter, while diesel and kerosene would cost Rs 143 per liter. Likewise, the price of LPG has been set at Rs 1,600 per cylinder.
In the last few months, the NOC has been continuously increasing the price of petroleum products citing heavy losses.
Even after the price revision, the state-owned oil monopolist is projecting a loss of Rs 9.27 billion in the next month.