2014-03-14,Kathmandu: Nepal Oil Corporation (NOC) has hiked the prices of petroleum products effective from Friday morning.

A board meeting of the NOC decided raise petrol prices by Rs 10 a litre and diesel and kerosene by Rs 6 each a letre. However, price of Liquefied Petroleum Gas (LPG) has remained unchanged.

As per the revised rate, petrol will cost Rs 140 per litre and diesel and kerosene will cost Rs 109 per liter each.

NOC said the ballooning loss has forced the state-owned oil monopoly to revise the prices. Currently, the NOC has been incurring a monthly loss of Rs 169 million by selling the petroleum products at subsidised rate.

Source: Ekantipur