The Nepal Oil Corporation (NOC), a state-owned trading enterprise that imports, stores and distributes petroleum products, has hiked the price of petroleum products by Rs 10 per litre. This will come into effect from Saturday midnight.
As per the adjusted price, petrol is now sold for Rs 170 per litre and diesel and kerosene for Rs 153 per litre each. However, the price of LP gas and aviation fuel has remained unchanged. The Corporation has been incurring a loss of Rs 23.2 in petrol per litre, Rs 40.13 in diesel and Rs 1050.8 in each LP gas cylinder, according to a statement issued on Saturday. It however has a profit of Rs 2.81 in kerosene per litre and Rs 12.64 and Rs 64.69 respectively in domestic and international aviation fuel.
The total loss the corporation has been incurring is around Rs 5.1 billion every fortnight.
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