KATHMANDU: Finance Minister Swarnim Wagle said Sunday that petroleum prices, including diesel and petrol, are expected to decline as tensions in the Middle East ease, although the reduction will not be immediate.

Responding to lawmakers during the House of Representatives discussion on the Economic Bill, 2026, Wagle said international crude oil prices have already fallen, but it will take time for lower-priced fuel to reach Nepal through the Indian Oil Corporation. He also said the government had reduced customs duty by 50 percent on diesel, petrol, and kerosene, along with the infrastructure development tax on diesel and petrol, to cushion consumers from recent price increases.