Nepal Oil Corporation has increased the price of petrol by NPR 17 per liter and diesel by NPR 25 per liter, aligning with the rise in global market prices. The revised prices set petrol between NPR 216.50 and NPR 219 per liter, while diesel ranges from NPR 204.50 to NPR 207 per liter. Although the corporation increased prices to reduce losses, it warns of an estimated deficit of around NPR 781 million across all sectors, which could impact supply.
Kathmandu, 26 Chaitra – Nepal Oil Corporation has raised fuel prices due to increasing international market prices, resulting in substantial losses for the corporation. According to the new adjustments, petrol prices have been increased by NPR 17 per liter and diesel/kerosene by NPR 25 per liter. Petrol prices now vary from NPR 216.50 to NPR 219 depending on the location, while diesel/kerosene prices are set between NPR 204.50 and NPR 207.
“Even after adjusting customs duties and infrastructure development taxes, the corporation faces a biweekly loss of NPR 1.02191 billion. Currently, the deficit per liter stands at NPR 16.65 for petrol, NPR 109.50 for diesel, and NPR 416.37 per cylinder for LPG. The total biweekly loss amounts to approximately NPR 1.02191 billion,” the Nepal Oil Corporation stated in its release.
“If such losses continue, payments to Indian Oil Corporation could be affected, potentially causing supply disruptions. Therefore, without further delay, prices have been raised by NPR 17 per liter for petrol, NPR 25 per liter for diesel/kerosene, NPR 100 per cylinder for LPG, and NPR 6 per liter for domestic aviation fuel,” the corporation further explained. Currently, the price of 14.2 kg LPG cylinders has reached NPR 2010, while domestic aviation fuel prices have been increased by NPR 6 per liter. Despite these hikes, the corporation estimates a biweekly loss of approximately NPR 781 million. The increased losses pose a risk to fuel supply, and consumers are urged to use petroleum products prudently.
