KATHMANDU: The price of petroleum products will increase starting on Wednesday, according to a statement released by Nepal Oil Corporation (NOC). Petrol prices have gone up by Rs 1 per liter after a meeting of the NOC's Board of Directors, while diesel and kerosene prices have gone up by Rs 4 per liter.

The new petrol rates with these changes will be Rs 156.50 per liter in the first category, Rs 158 per liter in the second, and Rs 159 per liter in the third. Diesel and kerosene, on the other hand, will now cost Rs 148.50 per liter in the first category, Rs 150 per liter in the second, and Rs 151 per liter in the third.

For pricing classification, the NOC has divided the distribution areas into many categories. The first category includes Charali, Biratnagar, Janakpur, Amlekhganj, Bhalwasi, Nepalgunj, Dhangadhi, and Birgunj. The depots at Kathmandu, Pokhara, and Dipayal are classified as the third category, while Surkhet and Dang are classified as the second.

Customers nationwide will be impacted by these price increases, which are a reflection of continuous adjustments made in response to market conditions. The increase might have an impact on the cost of transportation as well as the economy as a whole because fluctuations in fuel prices frequently have repercussions in a number of industries.