Kathmandu, Dec. 3 -- Nepal Oil Corporation (NOC) has slashed gasoline prices effective from Monday midnight.

According to NOC, it has revised the fuel prices based on the new price lists that the enterprise received from Indian Oil Corporation (IOC).

"We have reduced the price of petrol, diesel and kerosene by Rs 2 per litre as per the new price list sent by IOC," said NOC spokesperson Birendra Goit, "The new price will be effective from Monday midnight."

Following the price cut, petrol will now cost Rs 112 per litre while diesel and kerosene will cost Rs 99 per litre each.

The state owned oil monopoly, however, has not revised the price of aviation fuel and Liquefied Petroleum Gas (LPG).

Nepal on September 29, 2014 had adopted an au...