Nepal has rolled back fuel prices by up to 17pc, an official statement says, as the Himalayan nation responded to a fall in global prices following progress towards ending the war in Iran, Reuters reports.

State-owned Nepal Oil Corporation (NOC), the sole importer and distributor of fuel products in the country, reduced the retail prices of petrol by 9.2pc, of diesel by 13.3pc and of cooking gas by 4.6pc.

Jet fuel prices for the domestic sector have come down by 14.8pc and for the international sector by 14.47pc from Kathmandu, by 16.9pc for jets operating from Pokhara and by 17.04pc from Bhairahawa, it said.