Nepal Oil Corporation has once again raised the price of various petroleum products in the country. NOC has stated that the prices were hiked based on the price list forwarded by Indian Oil Corporation – the sole supplier of petroleum products to Nepal – on May 16.
As per the increased rates, petrol will now cost Rs 123 per litre whereas diesel and kerosene will each cost Rs 106 per litre. Similarly, the price of aviation turbine fuel for domestic flights has been raised to Rs 78 per litre.
Meanwhile, NOC has informed that the price of liquefied petroleum gas (LPG), better known as cooking gas, will remain the same. Likewise, the price of aviation turbine fuel for international flights has also not been hiked.
The corporation has stated that even with this increase in petroleum prices it will be facing a loss of Rs 8.56 and Rs 4.46 on each litre of petrol and diesel, respectively. It has also mentioned that it faces a loss of Rs 375.13 on each LPG cylinder. As per NOC, it will be facing a cumulative loss of Rs 110 crores every fortnight even with the recent hike in oil prices. Of this total, the loss being borne by the corporation on LPG alone stands at Rs 54 crores.
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