World News | Opposition Burns Effigy of Nepal PM Demanding Drop in Petrol Price

Kathmandu [Nepal], February 3 (ANI): Hitting the street against the rising price of petroleum, the student union of the opposition's Communist Party of Nepal (Unified Marxist-Leninist) burned an effigy of Nepal Prime Minister Sher Bahadur Deuba on Thursday.

Members of the All Nepal National Free Students Union (ANNFSU) burnt Deuba's effigy at Tri-Chandra Campus in Kathmandu as they hit the street against a recent petro hike.

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The price of petroleum products has reached an all-time high in Nepal as the state-owned petroleum supplier increased the price past Tuesday midnight owing to losses incurring from the sales.

Nepal Oil Corporation announced increment in prices of Petrol, Diesel and Kerosene by 3 rupees per litre and with new adjustments, a litre of petrol in Nepal would now cost One hundred and 42, Diesel and Kerosene would cost One hundred and 25 rupees a litre.

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Earlier on 14 March 2014, the NOC had hiked the fuel price to 140 rupees per litre and had remained low since then. Nepal Oil Corporation has been updating the price of petroleum after it gets the revised rate from Indian Oil Corporation every fortnight.

As per the latest release of NOC the last revised rate sent by IOC has made price adjustment by 4 rupees 92 paise per litre in Petrol, 7 rupees 24 paisa per litre in Diesel and 8 rupees 80 paise per litre in Kerosene. Likewise, aviation fuel also has become dearer by 7 rupees 48 paise. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)