KATHMANDU: The Nepal Oil Corporation (NOC) has again raised the price of petroleum products.
Stating that the Indian Oil Corporation (IOC) has increased the price, the Nepal Oil Corporation has increased the price of petrol, diesel and kerosene with effect from 12 midnight on Wednesday.
The corporation has increased the price of petrol, diesel and kerosene by Rs 5 per liter.
According to the increased price, petrol will now cost Rs 155 per liter in Kathmandu Valley. The price of diesel and kerosene each will be Rs 138 per liter.
The price of aviation fuel has also gone up. The domestic price has been increased by Rs 15 per liter and the international price by Rs 200 per liter.
The NOC has recently increased the prices of petro products. Due to prices gone up in international market, Nepal had to adjust the prices accordingly.
According to Nepal Oil Corporation (NOC), it has obtained a revised price list of petroleum products from the Indian Oil Corporation (IOC). The revised IOC price list puts the highest purchase prices for the NOC so far.
As per the IOC new price list, the NOC shall pay Rs 182.81 for petrol per liter, Rs 169.44 for diesel, Rs 113.49 for kerosene, Rs 131.94 for avian turbine fuel (domestic), Rs 114.51 for avian turbine fuel (international), Rs 2,240.34 for per filled cylinder of LP gas to IOC for the import and the figures include the import tax.
The NOC expect to incur a loss of Rs 10.61 billion from the supplies of petroleum products in a month (mid- March-mid April), according to NOC Spokesperson Binitmani Upadhyay.
However, the NOC securing gross profits from the sale of kerosene and avian fuel and the profit has no signification contribution to reduce the loss.
As per the new price list, the NOC has incurred a loss of Rs 32.81 on petrol per liter, Rs 36.44 on diesel and Rs 665.34 per filled gas cylinder.
However, it has been enjoying a profit of Rs 19.51 on kerosene per liter, Rs 4.6 on aviation fuel (domestic) and Rs 43.84 on aviation fuel (international).
