Nepal Oil Corporation Increases Fuel Prices

Kathmandu. Nepal Oil Corporation has increased the prices of diesel, kerosene, and aviation fuel. A meeting of the corporation's board of directors determined the new prices to be effective from the morning of April 16. 

According to the statement, the price of diesel and kerosene has been increased by 30 rupees per liter, and aviation fuel (domestic) has been increased by 5 rupees per liter. However, the corporation stated that the price of petrol has been kept unchanged for the time being. 

The corporation argues that price adjustment was necessary because the price of petroleum products in the international market is continuously rising and the new purchase price from Indian Oil Corporation has increased. According to the corporation, even after this price hike, there will still be a loss of 9.16 rupees per liter on diesel. 

In the last 15 days alone, the corporation suffered a loss of about 7.81 billion 6.1 million rupees, and even after the current adjustment, it is estimated that there will be a fortnightly loss of 5.75 billion. The corporation has also requested consumers to be economical in the use of petroleum products.