Nepal Oil Corporation (NOC) has raised the prices of petroleum products, effective Monday.
As per the new prices, petrol will cost Rs 88 per litre, diesel and kerosene will cost Rs 68 per litre, and a cooking gas cylinder will cost Rs 1,325.
NOC has cited a road tax imposed by the government and the price rise of crude oil in the international market. The budget has designated Rs 4 road tax per litre of petrol and Rs 2 on diesel, previously Rs 2 and Rs 1 respectively.
This is the fifth time that NOC has increased prices this year, despite the temporary rollback of prices in February. NOC has long been claiming it is running at a loss - Rs 170 million per month at the latest count - but sparked controversy in August by attempting to distribute a Rs 19 million bonus to its employees. The decision was quickly withdrawn once the Public Accounts Committee and the CIAA issued directives to the contrary.