Nepal Oil Corporation increases price of petroleum products again

The Nepal Oil Corporation (NOC), a state-owned trading enterprise of Nepal that imports, stores and distributes petroleum products in the country, has hiked the price of petroleum products. As per the new adjusted price list of petroleum products that will come into effect on Saturday midnight, the price of petrol has increased to Rs 121 per liters against earlier Rs 120. Likewise, the price of diesel and kerosene has been increased by Rs 1 per liter. The price of both diesel and kerosene has reached Rs 104 per liter. The price of aviation fuel on domestic routes has increased to Rs 76 per liter from Rs 74.

However, the price of cooking gas and aviation fuel on international routes has remained as it was. The NOC has been incurring a loss of Rs 6.72 per liter on petrol, Rs 44 paisa on diesel, and Rs 417.47 per cooking gas cylinder, according to NOC's spokesperson Binitmani Upadhyay. In total, it has been incurring a loss of Rs 810 million on the sale of petroleum products fortnightly.