KATHMANDU: The Nepal Oil Corporation (NOC) has hiked the price of petrol and diesel by Rs 5 per liter with effect from Thursday night and the price of aviation fuel has also been adjusted.
According to the corporation, petrol in Kathmandu now costs Rs. 150 and 133 diesel per liter. However, the corporation has stated that the price of cooking LP gas has been kept unchanged despite the loss of Rs 665 per cylinder.
According to the international media, the price of crude oil in the international market has crossed 120 per barrel since war broke between Russia and Ukraine.
Meanwhile, the Board of Directors of the corporation has decided to reduce the cost of clothing protection allowance provided to the permanent employees of the corporation.
The corporation has stated that it will incur a loss of Rs 2.5 billion in 15 days even if the price adjustment. The corporation is also demanding around NRs 5 billion from the Government of Nepal to pay installment for Indian Oil Corporation. It is estimated to incur a loss of NRs 28 billion by mid-March of the current fiscal year 2021/22.
