Nepal Oil Corporation has reduced the price of international aviation fuel. The corporation issued a press release on Sunday evening and reduced the price of aviation fuel with effect from 12 noon last night.
Earlier, the price of international aviation fuel was fixed at USD 893 per kiloliter. This has fallen to USD 715 per kiloliter. The corporation has reduced the price by almost 20 percent i.e. USD 178 per kiloliter.
Air fares are expected to fall as international aviation fuel prices fall. With the reduction in prices, the government-owned Nepal Airlines Corporation is estimated to save more than Rs 70 crores annually from aviation fuel alone.