Nepal Oil Corporation is going to announce the new price of petroleum products with effect from midnight today.

Under the new price to be announced by the corporation, the price of petrol will be reduced by Rs 20 and diesel by Rs 29. The new price of petrol will be Rs 179 and the new price of diesel and kerosene will be Rs 163.

The cabinet meeting convened after a meeting of the ruling coalition at the PM’s residence in Baluwatar agreed to reduce the price of petroleum products by reducing the tax on petroleum products.