August 4 – A week after threatening military action against Iran, US President Donald Trump has unexpectedly agreed to negotiate. An announcement was made regarding talks with Iran and the preparation of a draft agreement. Following Trump’s statement, international crude oil prices have fallen. The announcement has raised expectations that supply through the Strait of Hormuz will be smoother, leading to a decline in oil prices on Monday.
By 12:15 PM on Monday, crude oil prices had dropped between 5 and 6 percent. West Texas Intermediate (WTI) crude oil fell 6.37 percent to $79.28 per barrel. Similarly, Brent crude oil declined by 5.54 percent to $83.07 per barrel, and Murban crude oil decreased by 6.57 percent to $79.87 per barrel. This change in international oil prices is expected to impact the price of refined petroleum products worldwide, including in Nepal.
However, in Nepal, petroleum product prices were increased starting last night. Petrol prices rose by NPR 3 per liter, diesel and kerosene by NPR 5 per liter, and aviation fuel by NPR 20 per liter. As a result, petrol and diesel prices in Kathmandu, Pokhara, and Dipayal have reached NPR 200 per liter, while in Surkhet and Dang prices stand at NPR 199 per liter. In addition, in Charali, Biratnagar, Jakpur, Amlekhganj, Bhalwari, Dhangadhi, and Birgunj, these prices have risen to NPR 197.50 per liter.
