NOC hikes prices of petroleum products again

Published On: July 4, 2022 09:45 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, July 4: The Nepal Oil Corporation (NOC) has increased the prices of petroleum products again. NOC increased the price of petrol by Rs 9 per liter and diesel/ kerosene by Rs 2 per liter with effect from Monday midnight.

With the latest price hike, the retail price of petrol has gone up to Rs 181 per liter and diesel/ kerosene to Rs 172 per liter. While the price of cooking LP gas remains unchanged, the price of aviation fuel has increased by Rs 5 to Rs 190.

Earlier, NOC had sent a letter to the Office of the Prime Minister and Council of Ministers, the Ministry of Industry, Commerce and Supplies and the Ministry of Home Affairs, stating that the country’s outstanding dues to the Indian Oil Corporation had reached Rs 22 billion, which will reach to around Rs 30 billion from July 8.

According to NOC, its loss amount is increasing as it is unable to adjust the fuel prices in the line of the prices in the international market.  Similarly, it has also sought the government’s approval to maintain a five-liter quota for a two-wheeler on each purchase. Likewise, the NOC has proposed to set up a quota for four-wheelers for each purchase.

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