April 18, 2024, Thursday
Nepal 1:37:26 pm

Oil Corporation again hikes fuel prices

The Nepal Weekly
June 21, 2022

Nepal Oil Corporation has heavily revised the price of fuels, leading to an all-time record high cost of petrol, diesel and kerosene in the country.

As per the NOC’s new decision, the prices of diesel and kerosene have been increased by Rs 27 in a litre while that of petrol has been hiked by Rs 21.

 Now diesel and kerosene are being traded at Rs 192 per litre after the rate revision. Similarly, petrol prices have inched closer to Rs 200 per liter as they are being sold for Rs 199 per litre, effective from Monday.

Furthermore, aviation fuel for domestic airlines has been increased by Rs 19 per liter, landing at Rs 185 per liter. The same for international airlines has been increased by USD 100 per kiloliter to USD 1,645 per kiloliter, according to the corporation.

However, the price of liquefied petroleum gas has seen no change so far. The reason given by the corporation for the hike in price of petroleum products is to bring it in par with the international market, and to cut down its financial losses – a monthly loss of over Rs 4.5 billion even after the increment – which it says it has been facing for a while.

Meanwhile, student unions close to various political parties have demanded that the government revert its decision on fuel price hike. They have warned of stern agitation should the concerned authorities fail to revise the prices.