KATHMANDU: Nepal Oil Corporation (NOC) has hiked the retail price of petrol, diesel and kerosene by Rs. 2. According to Binit Mani Upadhyaya, spokesperson of the corporation, the new sale price will be applicable effective from 12.00 mid-night on Monday.
The Corporation has fixed the prices of petrol for Kathmandu (within 15 km of the Corporation’s depot area) at Rs. 110 and new retail prices of diesel and kerosene has been fixed at Rs.93.
The corporation says that the price of aviation fuel and LP gas has been kept unchanged at present.
Even after the price adjustment, the corporation will incur a loss of Rs 5.34 per liter on petrol, Rs 2.96 per liter on diesel and Rs 134.72 per cylinder on LP gas. It is stated that the supply of petroleum products has been facilitated by managing the loss from the price stabilization fund and the accumulated profit of the corporation.
Even after the current price adjustment, petrol is cheaper at Rs 32.26 per liter and diesel at Rs 37.64 per liter in the Birgunj area of Nepal, which is connected to the Indian border with Raxaul.
According to Binit Mani Upadhyaya, spokesperson of the corporation, the new price list sent by the Indian Oil Corporation on January 16 include Rs. 7.61 per liter on petrol, Rs. 6.39 per liter on diseal and Rs. 6.04 per liter for kerosene and Rs. 6.90 per liter for aviation fuel and Rs. 19.06 per cylinder for LP gas.
Spokesperson Upadhyaya said that if the corporation could not make price adjustment, it would incur loss of Rs. 675.5 million within 15 days time in the current price.
Press release
