The Nepal Oil Corporation (NOC) on Tuesday reduced the price of petrol, diesel and kerosene by 2 Nepalese Rupee per litre.
This decrease came after the launch of the first trans-border pipeline between India and Nepal.
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NOC deputy executive director Susheel Bhattarai informing the decrease said, “The corporation has reduced the prices due to saving through Pipeline transfer of petroleum products too.”
Indian Prime Minister Narendra Modi and his Nepalese counterpart KP Sharma Oli inaugurated Petroleum Pipeline project via a video conference.
The project has been completed ahead of the deadline set at the time of the agreement.
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The inauguration of the project is going to help Nepal in a big way as the country would now save hundreds of thousands of rupees that would have incurred at the time of the transport of petroleum to Nepal from India.
The Motihari-Amlekhgunj Oil pipeline was first proposed in 1996 and it materialised in 2014 during Modi’s Nepal visit. The formal agreement was signed in August 2015.
The new pipeline would soon supply 394 kilolitres of petroleum products per hour and 3,000 kilolitres of diesel will be imported every day through the pipeline.