The price of petrol per litre has been increased by 20 per cent to NRs 100 (Indian Rs 62.5) and the price of diesel has been increased by 20 per cent to NRs 70.
Similarly, the price of kerosene per litre has been increased to NRs 65 while that of LPG has been increased by NRs 100 per cylinder to NRs 1,200, according to Nepal Oil Corporation (NOC).
The NOC has been incurring heavy loss due to the subsidy being provided in petroleum products and Nepal owes billions of rupees to the Indian Oil Corporation, the sole supplier of petroleum products to Nepal.
Even after the current adjustment in prices, NOC will have to incur loss of NRs 1.5 billion every month, sources at the NOC said.
The NOC's losses had accumulated to the tune of NRs 14 billion, the officials said.
Meanwhile, students affiliated to the various ruling parties have blocked roads since early morning today at various places by burning tyres to oppose the price hike of petroleum goods.
