Nepal Oil Corporation hikes fuel prices to record highs

Kathmandu. With the Nepal Oil Corporation implementing a significant hike in petroleum prices, the cost of petrol has reached an all-time high today. On Thursday, the corporation decided to increase the price of petrol and diesel by 15 rupees per liter.

According to the decision made by the corporation's board of directors on Chaitra 19, the increased prices came into effect from 12:00 AM today. Under the new price list, petrol in the Kathmandu Valley is now 202 rupees per liter, while diesel and kerosene are priced at 172 rupees per liter.

The corporation stated that fuel prices in the international market are continuously rising due to the war in the Middle East, causing a fortnightly loss of approximately 13.21 billion rupees to the corporation.

Although the corporation increased the prices of petrol, diesel, and kerosene by 15 rupees per liter, the price of cooking LP gas remains unchanged.

The corporation stated that it has kept the price of gas unchanged to provide relief to general consumers, despite incurring a loss of more than 416 rupees per cylinder.