NOC loss likely to increase

The loss of the state-owned Nepal Oil Corporation (NOC) is likely to go up with the new price list received from the Indian Oil Corporation. NOC has estimated a possible loss of over Rs 1.5 billion from the sale of fuel in the next 15 days based on the revised price list received on October 1.

With the addition of newly-determined price, domestic tax rates, and other different costs, NOC is to invest Rs 139.18 per liter petrol, Rs 120.01 for per liter diesel, Rs 93.94 for per liter kerosene, Rs 84.07 for air-fuel to be used in domestic flights, Rs 76.44 for air-fuel used in external flights and Rs 1,961.88 for per LP cooking gas cylinder.

Lately, the NOC had adjusted the price of petroleum products on August 23. According to the adjusted price, per liter petrol costs Rs 130, diesel and kerosene Rs 113, Rs 86 for fuel used for domestic flights, and Rs 1,450 for cooking gas cylinder.

Based on the stipulated price, now the NOC is to bear a loss of Rs 9.18 in per liter petrol and Rs 7.01 in diesel and gain profit of Rs 19.59 in kerosene, Rs 1.93 in domestic air-fuel, Rs 15.10 in external air-fuel and Rs 511.88 in per cylinder.