A board meeting of the Nepal Oil Corporation (NOC) held on Saturday had increased price of diesel by Rs. 18.91 and kerosene by Rs. 7.12. Now the price of diesel is Rs. 95 and Kerosene oil is Rs. 84.[break]
Speaking at a press meet Sunday, in less than the government decision to increase the prices, Minister Bhatta said that the government has been making preparations to increase price of petrol and gas as well.
Consumers have been paying Rs. 105 for each liter of petrol and Rs. 1,325 for each of gas cylinder.
Minister Bhatta added that public vehicles and general consumers have to pay the increased price for diesel and kerosene oil.
The NOC claimed that price of petroleum products had to be increased in Nepal due to economic blockade of Iran, rise of value of dollar and excessive demands of petroleum products.
According to Officiating Executive Director of the NOC Suresh Kumar Agrawal, there is no loss to the NOC after selling diesel and kerosene oil in determined prices for the industries.
The NOC has a debt of Rs. 19 billion still now and it is increasing by Rs. 1.26 billion every year, he added.
The NOC has been bearing a loss of Rs. 3 per litre of petrol and Rs 340 in each cylinder of gas.
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