NOC refuses to lower petrol price despite Rs 14.56 profit per liter

Published On: October 17, 2022 02:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Oct 17: Nepal Oil Corporation (NOC) has again not adjusted the price of petroleum products. Even though new prices are coming from India ona regular basis, the corporation has not adjusted the prices under the pretext of past losses.

Due to this, the consumers have been hit by high prices. Despite an increase in the prices of some petroleum products by India on Sunday, the corporation still had a profit of Rs 390 million in 15 days. However, due to accumulated losses, the corporation has said that there will be no immediate price adjustment.

According to the new price list sent by the Indian Oil Corporation (IOC), the price of petrol per liter has increased by Rs 1.74, diesel by Rs 15.60 and aviation fuel by Rs 10.25. 

Similarly, NOC has a loss of Rs 6.34 per liter on diesel and Rs 325 per cylinder on LPG, according to the price list sent by IOC. However, the corporation has a profit of Rs 14.56 per liter on petrol, Rs 38.58 per liter on kerosene and Rs 40.78 on jet fuel domestically and Rs 90.98 per liter on the international side. 


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