Nepal Oil Corporation (NOC) has announced hike in the price of petrol pointing at its burgeoning losses and growing oil prices in the international market.
In a press statement issued on Tuesday evening, the NOC has said that the price of petrol will be increased, effective midnight of Wednesday, from Rs 73.5 to Rs 80 per liter in Kathmandu.
Earlier the NOC had increased the price of all petroleum products on October 25. This time it has only increased the price of petrol.
The NOC has said that it had to increase the price of petrol to ensure its smooth and easy supply. Currently, consumers have been complaining that the NOC has failed to supply petrol in adequate volume. Serpentine queues in front of petrol pumps have become commonplace in the capital valley.
The NOC has said that it will gradually adjust domestic prices of petroleum products to match with the international price. nepalnews.com Dec 26 07
