Nepal Oil Corporation Limited has withdrawn the increased price of petroleum products with effect from Saturday night.
With this return, the sale and distribution of petroleum products will now be carried out at the old price i.e. the price as applied from the night of 29 August.
On the initiative of Prime Minister Pushpa Kamal Dahal Prachanda, instructions were given to withdraw the increase in the price of petroleum products from the Cabinet meeting. After that, the oil corporation management issued a notice saying that the price hike was withdrawn. According to the corporation, the loss incurred after the withdrawal of the price increase will be compensated from the price stabilization fund.
Now in the market from Monday morning, petrol will be bought and sold at 183 rupees, diesel and kerosene at 173 rupees and domestic aviation fuel at 136 rupees per liter. Similarly, foreign aviation fuel will be traded at 1.036 dollars per kiloliter and cooking LP gas at 1800 rupees per cylinder.