Nepal

NOC hikes fuel prices

   Download Android App    Share in      FullScreen   CheckVideos

KATHMANDU, FEBRUARY 7The Nepal Oil Corporation has raised prices of petroleum products with effect from today. Water from Melamchi being supplied in Kathmandu Valley from today NOC's decision to maintain fuel prices draws ire In a statement dated yesterday and publicised today, the NOC stated that the fuel prices had been hiked in the domestic market, keeping in mind the estimated losses over the next 15 days after the Indian Oil Corporation also raised prices of petroleum products on February 1. As per the revised list sent by the IOC, the price of petrol has been increased by Rs 8.01 per litre, diesel by Rs 9.75 per litre, kerosene by Rs 4.61 per litre, and aviation fuel by Rs 7.80 per litre.

But NOC has raised petrol and diesel prices by Rs 3 only.

Following the revision, petrol now costs Rs 178 per litre, while diesel and kerosene cost Rs 175 a litre each in the domestic market.

However, prices of LPG and aviation fuel have not been changed.

At present, the price of aviation fuel for domestic airlines and international airlines has been fixed at Rs 170 per litre and $1.420 a litre, respectively, while an LPG cylinder costs Rs 1,800.According to NOC, the price of crude or processed oil in the international market is very volatile at present and that the corporation has outstanding dues which are yet to be paid to the Nepal government and the IOC.Thus, the corporation had no option but to hike fuel prices to ensure uninterrupted fuel supply in the market, it has said in the statement.Despite the increase in fuel prices in the domestic market, the NOC has clarified that it has outstanding dues to the tune of Rs 16.30 billion to the Nepal government in loans and to the IOC for fuel purchase.According to international news agencies, oil prices rose yesterday, buoyed by supply concerns, but remained near three-week low on fears that slower growth in major economies could curb demand.A version of this article appears in the print on February 8, 2023, of The Himalayan Times. .

This article first appeared/also appeared in https://thehimalayantimes.com 




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Nepal


13