NOC raises price of diesel, kerosene to Rs 73.5 per liter

KATHMANDU, July 10: In an effort to bring down mounting losses with rising prices of petroleum products in the international market, Nepal Oil Corporation (NOC) has increased the price of kerosene and diesel by Rs 5 each to Rs 73.5 per liter with effect from Sunday.



The state-owned petroleum monopoly had earlier scaled up the price of kerosene and diesel by Rs 3 to Rs 68.5 per liter on December 6, 2010.[break]



The government has adopted an equal pricing policy for diesel and kerosene since October 2008 to discourage adulteration of diesel with kerosene due to price difference.



Mukunda Dhungel, spokesperson of NOC, said loss on diesel and kerosene will go down to Rs 9.16 and Rs 0.96 per liter respectively with the latest review in the prices.



“With fresh revision in prices of diesel and kerosene, NOC´s monthly loss will reduce to Rs 739 million from existing Rs 1.04 billion,” said Dhungel.



Monthly consumption of kerosene which is widely used by urban poor as a cooking fuel, stands at 4,000 kiloliter. Similarly, consumption of diesel is estimated at 60,000 kiloliter per month.

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