KATHMANDU: The Nepal Oil Corporation (NOC), a state-owned trading enterprise that imports, stores and distributes petroleum products, has hiked price of petroleum products by Rs 10 per litre. The price of liquefied petroleum gas (LPG) per cylinder has been increased by Rs 200 while aviation fuel domestic has been increased by Rs 10.
The new price will come into effect from midnight today.
As per the adjusted price, petrol will be sold at Rs 180 per litre and diesel and kerosene at Rs 163 per litre each. The liquefied petroleum gas (LPG) will be sold at Rs 1,800 per cylinder and aviation fuel (domestic) at Rs 166.
With the adjusted price of petroleum on May 14 and the new price list sent by the Indian Oil Corporation (IOC) on May 16, the NOC has been incurring a total loss of Rs 4.49 billion — Rs 22.94 in petrol per litre, Rs 35.33 in diesel, Rs 12.64 in kerosene oil, and Rs 1050.18 in each LPG cylinder — in a fortnight, according to a statement issued today. The NOC makes a profit of Rs 5.45 per litre in aviation fuel (domestic) and Rs 60.01 in Aviation fuel (International).
As claimed by NOC, even with the adjusted price, it will incur a loss of Rs 3 billion in LPG, Rs 3.4 billion in diesel and Rs 1 billion in petrol in one month’s time.
The NOC has said the price of refined petroleum has gone up in the international market due to the impact of Russia-Ukraine war.