Nepal hiked the prices of petroleum products to meet fuel shortage and reduce losses at the state firm. The price of petrol has been increased by Nepalese rupees 6, diesel and kerosene by rupees 3 per liter and the price of LPG by rupees 200 per cylinder. However, the price of aviation fuel remains unchanged for now.
The hike is expected to reduce Nepal Oil Corporation's monthly losses to rupees 70 million. It was losing rupees 400 million every month.
Protesting against the price hike, Maoist rebels partially stopped transport on Thursday.
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