By A Staff Reporter

Kathmandu, Feb.4: Nepal Oil Corporation (NOC) has slashed the prices of petrol, diesel and kerosene to be effective from Monday midnight.
A meeting of NOC has decided to reduce the price of petrol, diesel and kerosene by Rs. 1 per litre, following the price revision in the international market, said NOC spokesman Birendra Goit.
However, the NOC increased the price of liquefied petroleum gas (LPG) by Rs. 25 per cylinders.
The NOC has adjusted the price of petroleum products as per the new price structure received from the Indian Oil Corporation on February 1, he said.
As per the revised rate, petrol will cost Rs.110 per litre and diesel and kerosene will cost Rs. 99 per litre. A cylinder of cooking gas will cost Rs. 1,375.
According to him, price of aviation turbine fuel (ATF) has remained the same.
Earlier, the NOC had increased the price of diesel and kerosene by Rs. 2 per litre a month ago. He said that the NOC has increased the price of cooking gas due to increase in its price in the international market.
As per the new price structure received from the IOC, per cylinder price of cooking gas has increased significantly, forcing the NOC to increase its price.
"Even after increasing the price, the NOC will be facing a loss of Rs. 384.23 in a cylinder of cooking gas. The NOC faces a loss of Rs. 420 million in 15 days in cooking gas," Goit told The Rising Nepal.
He, however, said that the NOC would make an overall profit of Rs. 250 million in petroleum business in a fortnight.