Student protests force Nepal Oil to reduce prices of petroleum products

The Nepalese government reduced the prices of petroleum products in late January in view of week-long student protests. The price of petrol was reduced by Rs 3 (US$0.038) per liter, diesel fuel and kerosene by Rs 4 (US$0.051) per liter and cooking gas by Rs 85 (US$1.08) per cylinder. “The government had increased prices by about 10% but now has decided to scale back the prices which imply the hike will be about 5%,” said Lekh Raj Bhatta, minister for Commerce and Supplies. (January 26, 2012)