Fuel price hiked in new list sent by IOC

KATHMANDU: Fuel price has increased in the latest revised price list sent by the Indian Oil Corporation (IOC) to the Nepal Oil Corporation (NOC). As per the new price list, the price of petrol, diesel and aviation fuel have increased by Rs 6.52, Rs 19.3 and Rs 91.91 per litre respectively. At present, in Nepal, petrol is bought for Rs 178 per litre while diesel and kerosene are priced at Rs 165. Similarly, aviation fuel is being traded at Rs 166 and $1.54 per litre (domestic and international respectively). Liquefied petroleum gas (LPG) is bought for Rs 1,800 per filled cylinder. After adjustment of the new price list sent by IOC, petrol, diesel and kerosene will cost Rs 209.28, Rs 202.16 and Rs 147.99 per litre respectively with tax inclusion. Similarly, the price of aviation fuel will reach Rs 168.70 (domestic) and Rs 147.89 (international) while LPG will cost Rs 2,551.15 per cylinder. Accordingly, Nepal incurs loss of Rs 31.28 per litre in petrol, Rs 37.16 in diesel, Rs 2.70 in aviation fuel (domestic) and Rs 751.14 in LPG. The NOC is projected to incur around Rs 4.71 billion from the total losses fortnightly (Rs 950 million loss in petrol, Rs 2.9 billion in diesel, Rs 6.6 million in aviation fuel (domestic) and Rs 1.1 billion in LP gas), said the NOC Spokesperson Binit Mani Upadhyay. However, it has got profits in aviation fuel (international) and kerosene. There is a profit of Rs 17.1 per litre in kerosene and Rs 44.63 in aviation fuel (international). READ ALSO:

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