The state-owned corporation has hiked the petro prices citing fluctuations in crude oil prices in international market.
The NOC has increased the prices of petrol, diesel, kerosene and cooking gas, effective from Thursday midnight. The NOC board of directors has upped petrol price by Rs 17 per liter and diesel and kerosene by Rs 25 per liter each.
Likewise, the price of cooking LPG has been increased by Rs 100 per cylinder. According to the corporation, domestic aviation fuel has been upped by Rs 6 per liter.
With the revised rates in place, petrol now has reached Rs 219 per liter in the Kathmandu Valley. Similarly, diesel and kerosene are priced Rs 207 per liter.
The price of a cooking LPG cylinder has reached Rs 2,010. Likewise, domestic aviation fuel has been fixed at Rs 257 per liter.
The government claims that despite offering 50 percent exemption on customs duties and infrastructure development taxes, the losses did not reduce, necessitating the price hike.
The NOC claims it will fortnightly incur a loss of approximately Rs 7.81 billion despite today's price increase.
