Nepal's Petroleum Imports Rise in First Eight Months of FY 2082/83 Amid LPG Decline

Kathmandu. In the first eight months of the current fiscal year 2082/83 (Shrawan– फाल्गुन), Nepal has witnessed a significant increase in both the volume and value of petroleum product imports.

According to the latest data released by the Department of Customs, petroleum products worth a total of NPR 209.999451 billion were imported during this period. This compares to NPR 206.375822 billion imported in the corresponding period of the previous fiscal year 2081/82. This represents a 1.76 percent increase in import value compared to the previous year.

This substantial expenditure covers the import of various petroleum products including petrol, diesel, kerosene, furnace oil, LPG, lubricating oil, coal, and bitumen. Although these products are essential for Nepal's transportation, industry, agriculture, and domestic consumption, their rising imports place a significant burden on the national economy.

While imports of other petroleum products saw a slight increase in the current year, the import of Liquefied Petroleum Gas (LPG) for cooking has decreased, according to the department's statistics.

Among these, diesel imports were the highest. Diesel imports increased by 3.95 percent in value this fiscal year to NPR 82.105106 billion, up from NPR 78.863745 billion in the previous year.

Looking at the volume, diesel imports increased by 2.80 percent. In the current year, 896,448 kiloliters of diesel were imported, compared to 871,399 kiloliters in the previous year, showing a 2.80 percent growth.

Petrol imports increased by 2.49 percent in value this fiscal year to NPR 43.897378 billion, compared to NPR 42.801713 billion in the previous year.

However, there was not a significant change in volume. In the current year, 511,907 kiloliters of petrol were imported, compared to 489,842 kiloliters in the previous year.

Similarly, LPG (cooking gas) imports decreased by 9.88 percent to NPR 37.313748 billion in the current year, down from NPR 41.008808 billion imported in the previous year.

Furthermore, comparing the volume, 362,095,72 kilograms of LPG were imported in the current year, compared to 372,281,979 kilograms in the previous year, indicating a 2.81 percent reduction.