The Indian Oil Corporation (IOC) has increased the prices of petroleum products.
According to the Nepal Oil Corporation (NOC), the IOC increased the prices of petrol and diesel by Rs 8 per liter.
The price of kerosene increased by Rs 4.60 and that of turbine fuel by Rs 7.80. However, the price of liquefied petroleum gas (LPG) has gone down by Rs 75 per cylinder.
The new price of petroleum products is adjusted as per the deal reached between the NOC and Indian Oil Corporation (IOC) every 15 days.
Despite the price-hike in India, the NOC has not determined the new prices of the petroleum products for its customers yet.
The NOC said the new price adjustment will incur a loss of Rs 550 million to it in the period of 15 days.
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