NOC says it is short of Rs 10 billion to pay to IOC for fuel imports in this month

Published On: May 2, 2022 12:39 PM NPT By: Republica  | @RepublicaNepal

Hefty fuel price rise likely

KATHMANDU, May 2: The Nepal Oil Corporation (NOC) has said that it is short of over Rs 10 billion to pay to the Indian Oil Corporation (IOC) for fuel imports in May 2022 after the  IOC sent the NOC new and revised rates of fuel prices. 

According to the new price list sent by IOC, petrol is priced at Rs 183.02 per liter, diesel at Rs 183.13 per liter, kerosene at Rs 140.19 per liter, aviation fuel (domestic) at Rs 143.36 per liter, international at Rs 123.78 and LPG at Rs 2,650.18 per cylinder. 

Prior to the increased rate, the buying price of petrol was Rs 178.16 per liter, diesel Rs 173.05 per liter, kerosene Rs 136.24 per liter, aviation fuel (domestic) Rs 139.24 per liter, aviation fuel (international) Rs 119.64 per liter and LPG Rs 2,551.45 per cylinder. 

According to NOC, the corporation is bound to face a loss of Rs 5.19 billion in the next 15 days. As a result, the corporation has stated that it will still be short of Rs 10 billion to purchase fuel from the IOC for the next one month.

For consumers, petrol is currently priced at Rs 160 per liter, diesel at Rs 143 per liter, and kerosene at Rs 143 per liter. Similarly, the price of aviation fuel for domestic airlines is currently fixed at Rs 156 per liter while aviation fuel for international airlines is priced at USD 1.54. Likewise, LPG is priced at Rs 1,600 for consumers in the Nepali market. 


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