KATHMANDU: Nepal Oil Corporation has reduced the price of the liquefied petroleum gas (LPG) by Rs35 per cylinder. It is probably the first time that the state-owned enterprise has reduced the price of cooking gas .
With the revised price, the cooking gas now costs Rs1,435 per cylinder. Previously, the NOC had ever been suffering loss in the petroleum product. According to the NOC , it suffered the loss of Rs 1,043 per cylinder in January 2013—the biggest loss the NOC ever went.
Along with the LPG , the NOC also reduced the prices of petrol, diesel, kerosene and aviation fuel (used in both domestic and international flights. According to the oil monopoly, it has reduced the price of petrol, diesel and kerosene each by Rs2.50 per liter. With the reduced price, petrol now costs Rs 106.50 per liter while the diesel and kerosene cost Rs84 per litre each.
Similarly, the NOC also reduced the price of aviation fuel used in domestic flight by Rs15 per liter to Rs118 per liter. Similarly, the price of aviation fuel for international flight has been reduced by $75 per kilolitre to $1,325.
With the revised price, the estimated profit of the enterprise is Rs1.7 billion this month, says the NOC .
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