Nepal Oil Corporation (NOC) has hiked the price of petrol and slashed the price of diesel and kerosene effective from Monday, December 16.

Issuing a statement, the state-run oil monopoly said that the price of petrol has been increased by Rs 2 per litre, and diesel and kerosene decreased by Rs 2 per litre.

With the latest price adjustment, petrol will now cost Rs 162 per litre in the capital while the prices of diesel and kerosene have been fixed at Rs 151 per litre.

Meanwhile, the prices of cooking gas (liquefied petroleum gas) and aviation turbine fuel for domestic flights remain unchanged at Rs 1910 per cylinder and Rs 128 per litre respectively, according to the website of NOC.      

The NOC adjusts fuel prices fortnightly based on the revised list received from its sole supplier, the Indian Oil Corporation.