Fuel prices to remain same this month

KATHMANDU:

Nepal Oil Corporation (NOC) has said that it will not review fuel prices this month. “NOC received an increased price list from its supplier Indian Oil Corporation (IOC) on May 1. However, we’ll not change fuel prices at least for this month (May),” said NOC Managing Director Gopal Bahadur Khadka. After the enforcement of the automatic pricing mechanism on September 29, last year, NOC has been reviewing fuel prices every fortnight as per the international market price update, which NOC receives from IOC every fortnight of the English calendar. As per the price update of May 1, NOC has projected its monthly profit to stand at Rs 629.3 million.

Source: THT