NOC hikes fuel price again; petrol costs Rs 199 per litre

This undated image shows the storage of Nepal Oil Corporation. Photo courtesy: NOC

KATHMANDU: The Nepal Oil Corporation (NOC), a state-owned trading enterprise that imports, stores and distributes petroleum products, has increased the price of petroleum products.

The fuel price has been increased with the increase in the latest revised price list sent by the Indian Oil Corporation (IOC) to the Nepal Oil Corporation (NOC).

The meeting of the NOC board of directors has increased the price of petrol by Rs 21 per litre and diesel/kerosene by Rs 37 per litre with effect from today.

Likewise, the price of aviation turbine fuel (Domestic) has been increased by Rs 19 per litre and ATF (international) by $100 per kilolitre.

With the latest price hike, the retail price of petrol has gone up to Rs 199 per litre,  diesel/kerosene to Rs 192 per litre, ATF (Domestic) to Rs 185 per litre and ATF (international) to $1,645 per kilolitre.  The price of liquefied petroleum gas (LPG)/cooking gas remains unchanged. The cooking gas is sold at Rs 1,800 per litre.

Even with the adjustment of petroleum prices, the state own enterprise is projected to incur a loss of Rs 4.70 billion in a month. It has been estimated that it will incur a loss of Rs 50 to 55 billion by July 16. The NOC said it has currently incurred a loss of around Rs 2.28 billion in LPG.

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