Petrol price raised to Rs 219 per litre; diesel, kerosene to Rs 207 per litre
KATHMANDU: Nepal Oil Corporation (NOC) has raised the prices of petroleum products; the new rates came into effect at midnight on Thursday.
The NOC board of directors approved an increase of Rs 17 per litre for petrol and Rs 25 per litre for both diesel and kerosene. The price of a liquefied petroleum gas (LPG) cylinder has been raised by Rs 100, while domestic aviation turbine fuel (ATF) has been increased by Rs 6 per litre.
With the revised rates, petrol in the Kathmandu Valley is now priced at Rs 219 per litre. Diesel and kerosene have been fixed at Rs 207 per litre. An LPG cylinder now costs Rs 2,010, and domestic aviation fuel is set at Rs 257 per litre.
The NOC said the price hike was prompted by fluctuations in international crude oil prices.
The government has said it has offered a 50% exemption on customs duties and infrastructure development taxes, but that the relief did not sufficiently reduce the NOC’s losses, making the price adjustment necessary.
Despite the increases, the NOC estimated it would continue to incur substantial losses, projecting a fortnightly shortfall of approximately Rs 7.81 billion even after the new rates.
