Nepal Oil Corporation (NOC) has reduced the price of aviation turbine fuel (ATF) for international flights. The corporation published a notice on Sunday informing that the price of ATF has been decreased with effect from Sunday midnight.
The steering committee meeting of NOC held on Sunday has taken a decision to sell aviation turbine fuel for international flights with a maximum profit margin of only 15 per cent until the situation created by the COVID-19 cools down.
Nepal Oil Corporation will be selling aviation turbine fuel at $715 per kilolitre from today as against the earlier price of $893 per kilolitre.
Until Sunday, NOC was earning a profit margin of 40 per cent on the sale of each kilolitre of aviation turbine fuel. Previously, the corporation had also sold ATF at a profit margin of 70 per cent.
According to NOC, it bears a loss of Rs 50o million every fortnight on the sale of liquefied petroleum gas (LPG), better known as cooking gas. The loss incurred on the sale of LPG was compensated through the profit earned on aviation turbine fuel.
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