Kathmandu, April 10: Nepal Oil Corporation has increased the prices of petroleum products. The adjustment comes as the corporation faces heavy losses due to rising prices in the international market.

Under the new rates, petrol has gone up by Rs 17 per litre, while diesel and kerosene have increased by Rs 25 per litre. Petrol now costs between Rs 216.50 and Rs 219 per litre, depending on the region. Diesel and kerosene are priced between Rs 204.50 and Rs 207 per litre.

The corporation stated that even after adjusting customs duty and infrastructure development tax, it is still facing a fortnightly loss of Rs 10.21 billion. At present, it is losing Rs 16.65 per litre on petrol, Rs 109.50 per litre on diesel, and Rs 416.37 per LPG cylinder. Overall, the projected biweekly loss stands at Rs 10.21 billion.

According to the corporation, continued losses could affect payments to the Indian Oil Corporation and disrupt fuel supply. So, instead of fully matching cost prices, it has partially increased rates: Rs 17 per litre for petrol, Rs 25 for diesel and kerosene, Rs 100 per LPG cylinder, and Rs 6 per litre for domestic aviation fuel.

The price of a 14.2 kg LPG cylinder has now reached Rs 2,010. Domestic aviation fuel has also risen by Rs 6 per litre.

Even after the hike, the corporation expects a remaining loss of around Rs 7.81 billion every two weeks. Warning that prolonged losses could affect supply, it has urged consumers to use petroleum products sparingly.

People’s News Monitoring Service

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