KATHMANDU, Feb 1: Nepal Oil Corporation (NOC) has increased the price of liquefied petroleum gas (LPG) by Rs 25 per cylinder.
Bhanu Bhakta Khanal, the spokesperson for NOC, said that the new price will come into effect from Thursday.
The decision means price of cooking gas has climbed to Rs 1,350 from existing Rs 1,325 per cylinder.
Khanal says that NOC will suffer loss of Rs 162 per cylinder even after the increment in price.
The NOC, however, kept the price of diesel, petrol and kerosene unchanged on Monday. The petroleum monopolist claimed that it was facing loss as crude oil price has been rising in the international market.
As per the new rates forwarded by Indian Oil Corporation - the sole supplier of petroleum products to Nepal, NOC says it will incur loss of Rs 239.3 million in the next 15 days. NOC says it will post loss of Rs 153 million on LPG trade alone.
NOC will log profits on petrol, kerosene and ATF in the next 15 days, while it will suffer loss on diesel and cooking gas, according to the new rates.