Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 5 per litre effective Sunday. The price of petrol has reached Rs 102 per litre from Rs 97.
A meeting of the board of directors of NOC decided to hike the petrol price on Friday. However, the decision was made public only on Sunday.
NOC said, it was forced to increase the price of petrol as the price of crude oil is increasing in the international market. NOC claimed it was bearing a loss of Rs 0.5 billion per month while selling petrol at the old price.
The price of other petroleum products - kerosene, diesel, cooking gas and aviation fuel - has not been changed.
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