Nepal Oil Corporation (NOC) has lowered the prices of petrol, diesel and kerosene effective from Wednesday, July 16.

According to a press release issued by NOC on Tuesday, the price adjustment follows a drop in the purchase rates received from Indian Oil Corporation (IOC), the sole supplier of petroleum products to Nepal.

As per the decision of the NOC Board of Directors, the price of petrol has been reduced by Rs 5 per liter, while the prices of diesel and kerosene have been slashed by Re 1 per liter. The retail price of liquefied petroleum gas (LPG) used for cooking, however, remains unchanged.

NOC stated that the latest price list received from IOC showed a drop of Rs 5.03 per liter in petrol and Rs 1.30 in diesel.

With the revised rates, petrol will now cost Rs 157.5 per liter in Category I areas, Rs 159 in Category II, and Rs 160 in Category III. Diesel and kerosene will be priced at Rs 145.5 per liter in Category I, Rs 147 in Category II, and Rs 148 in Category III.

NOC classifies its fuel distribution into three categories based on location. Category I includes areas within a 15-kilometer radius of its major depots and offices in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi, and Birgunj. Category II covers Surkhet and Dang, while Category III includes Kathmandu, Pokhara, and Dipayal.