Kathmandu: Petroleum prices have risen again from the Indian Oil Corporation (IOC).
Nepal Oil Corporation (NOC) has stated that the prices of all petroleum products have gone up as per the new list from (IOC) India.
According to the new price list, petrol has gone up by Rs 3.89 per liter, diesel by Rs 3.08 per liter, kerosene by Rs 10.30 per liter, aviation fuel by Rs 3.32 per liter and LPG by Rs 100 per cylinder.
The price of Nepal’s petroleum products is based on internal factors, international market prices and the Indian Oil Corporation (IOC). If the price of petroleum products increases in the international market, the price will increase automatically in Nepal.
Nepal buys fuel from Indian Oil Corporation of India (IOC) and distributes it in the country. Therefore, the price of Nepal’s petroleum products is based on the price set by the IOC.
The price of fuel in the Nepali market depends on the international market price as well as the price of IOC. The IOC sends a new adjusted price to the Nepal Oil Corporation every 15 days and Nepal adjusts the price accordingly.