Nepal Oil Corporation has announced a major reduction in petroleum product prices, providing relief to consumers as international fuel prices continue to soften.
According to the decision of the corporation’s board, the revised prices came into effect from Wednesday midnight (12:01 AM).
Fuel price reductions announced:
- Petrol: Reduced by Rs. 20 per liter
- Diesel: Reduced by Rs. 30 per liter
- Kerosene: Reduced by Rs. 30 per liter
- Domestic aviation fuel: Reduced by Rs. 40 per liter
- LPG cooking gas: Reduced by Rs. 100 per cylinder
The corporation stated that the adjustment follows a decline in international crude oil prices, allowing domestic fuel prices to be revised downward.
The price reduction comes after increasing concerns over inflation, transportation costs, and rising household expenses. Lower fuel prices are expected to ease pressure across multiple sectors of the economy.
Market observers believe the reduction in petrol and diesel prices could contribute to lower public transportation fares, reduced freight and logistics costs, and moderate relief in overall market inflation if the benefits are passed through across supply chains.
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