Petrol, diesel, LP gas prices come down

KATHMANDU: Fuel prices have come down after the board of directors of Nepal Oil Corporation (NOC) endorsed the Automatic Pricing Mechanism Working Procedure, 2023, on Tuesday.

While prices of petrol and diesel in Kathmandu have come down by Rs 4 and Rs 6 per liter, respectively, the price of LP gas has been reduced by Rs 10 per cylinder. The new prices will come into effect from Sunday midnight.

Now that the automatic pricing mechanism has come into force, fuel prices will be adjusted automatically based on the prices that Nepal Oil Corporation (NOC) receives from its sole supplier Indian Oil Corporation (IOC).

IOC sends price rates to NOC twice a month – on the 1st and 15th of every month.

As per the working procedure, NOC will keep a profit margin of 2% on diesel and 2.5% on petrol.