May 15: Nepal Oil Corporation (NOC), a state-owned trading enterprise that imports, stores and distributes petroleum products, has hiked the price of petroleum products by Rs 10 per liter.

According to the NOC, the decision has come into effect from Saturday midnight.    
As per the adjusted price, petrol is being sold for Rs 170 per liter and diesel and kerosene for Rs 153 per liter each. However, the price of cooking gas and aviation fuel has remained unchanged.

Despite the price hike, NOC claimed it is has been incurring a loss of Rs 23.2 in a litre of petrol, Rs 40.13 in diesel and Rs 1050.8 in each LP gas cylinder.

However, NOC said in a statement issued on Saturday that it has been making a profit of Rs 2.81 in a litre of kerosene and Rs 12.64 and Rs 64.69 respectively in domestic and international aviation fuel.    
The total loss the NOC stands at around Rs 5.1 billion every fortnight. -- RSS