Nepal Oil Corporation Hikes Fuel Prices Significantly

Kathmandu. Nepal Oil Corporation Limited has significantly increased the prices of petroleum products.

The corporation raised the retail selling prices of petrol, diesel, and kerosene, citing increased prices in the international market and pressure on supply management.

According to a press release issued by the corporation, the new prices were adjusted effective from the night of Chaitra 1, 2082 BS. Following the price adjustment, the price of petrol has increased by NPR 15 per liter, and diesel and kerosene by NPR 10 per liter.

Accordingly, 

Petrol First category: NPR 169.50 per liter

Second category: NPR 171 per liter

Third category: NPR 172, while

Diesel and Kerosene

First category: NPR 141.50 per liter

Second category: NPR 143 per liter

Third category: NPR 144 per liter. 

According to the corporation, the pressure on supply management is due to tensions in the Middle East and West Asia, and the rise in petroleum prices in the international market. The corporation stated that price adjustment and supply management have both become challenging in countries that do not have their own petroleum sources.

The corporation purchases petroleum products from India. The corporation stated that it had to adjust prices in Nepal according to the new price list received from that company based on the increased prices in the international market.