KATHMANDU: Most private petrol pumps in the Kathmandu Valley have closed down, displaying “No Petrol” and “No Diesel” signs, immediately following a price reduction announcement by the Nepal Oil Corporation (NOC).

Dealers chose to shut their pumps to avoid heavy losses from selling fuel purchased at older, higher rates.

This sudden shutdown has left consumers struggling to refuel their vehicles, leading to long queues at the few operational stations and disrupting public transportation in the capital.

While pump operators argue they cannot run until a clear policy or compensation mechanism for existing stock is introduced during price adjustments, the NOC maintains that supply remains regular.

NOC Spokesperson Manoj Kumar Thakur has urged consumers not to panic over rumors.

The closures come on the heels of a significant price cut implemented last night by the NOC, reflecting lower international rates sent by the Indian Oil Corporation.

The corporation slashed the price of petrol by Rs 20 per liter, diesel by Rs 30 per liter, and domestic aviation fuel by Rs 40 per liter.

Additionally, international aviation fuel was reduced by $265 per kiloliter, and cooking gas (LP Gas) saw a drop of Rs 100 per cylinder.

With the new adjustments, petrol is now priced at Rs 197 per liter, diesel and kerosene at Rs 195 per liter, domestic aviation fuel at Rs 229 per liter, and cooking gas stands at Rs 2,060 per cylinder.