KATHMANDU, Dec 26: Nepal’s state-owned oil company on Wednesday hiked petrol prices by nearly 10 per cent, the second increase in the past two months, to meet a rising import bill, officials said.

“The price of petrol has been increased with immediate effect to meet the rising costs in the international market,” Nepal Oil Corporation spokesman Icchha Bikram Shah told AFP.

In October, the company, which enjoys a monopoly on oil distribution in the country, had increased the price of petrol by nine per cent, diesel by five per cent, kerosene by six per cent and gas used for cooking by 22 per cent.

The spokesman said the prices of other oil products would also go up in the “next few days”.

—AFP