August 2: Nepal Oil Corporation has increased the price of petroleum products effective from Saturday midnight (August 1).

According to the state-owned oil monopoly, it has increased the price of diesel, petrol and kerosene by Rs 2 per litre each.

With the new price adjustment, kerosene and diesel will now cost Rs 90 per litre while petrol will cost Rs 104 per litre. Meanwhile, NOC has not changed the price of cooking gas and aviation turbine fuel.

According to a statement issued by NOC, it decided to adjust the prices of petroleum products as per the revised list provided by the Indian Oil Corporation. NOC clarified that the price was hiked in accordance to the automatic pricing mechanism adopted by the state-owned oil company.

NOC stated that the price of petrol has increased in the international market and therefore the price was adjusted in Nepal accordingly.

NOC had earlier reviewed the price of petroleum products on July 10.