India reduces fuel prices. Will Nepal follow suit?

Published On: August 1, 2022 04:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, August 1: The Indian Oil Corporation (IOC) has reduced the prices of petroleum products and sent a new price list to Nepal Oil Corporation (NOC).

According to the new price list sent by the IOC to the NOC, the price of petrol has decreased by Rs 12.45 per liter and that of diesel by Rs 16.80 per liter.

However, even though the IOC had reduced the price of petrol per liter by Rs 15.76 and that of diesel by Rs 16.56 per liter last time, the NOC had not reduced the price of petroleum products in the country. After the decrease in the prices, the overall fortnightly loss of the corporation will come down to about Rs 750 million.

Following the fall in the price of crude oil in the international market, India reduced the price of fuels.


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