Kathmandu, March 16 -- The Nepal Oil Corporation (NOC), the state monopoly, has increased the prices of petroleum products by up to 15 rupees per litre as tensions in West Asia continue for a third week.

The NOC, in its three-page press release, cited rising international market rates driven by escalating tensions in West Asia as the reason for the spike in prices. As per the state monopoly, the price of petrol from Sunday morning has become dearer by NRs 15 per litre, while diesel and kerosene have been raised by NRs 10 per litre.

NOC officials said the adjustment was necessary following a rise in global oil prices amid growing geopolitical uncertainties in West Asia, a region that supplies a significant portion of the world's crude oi...