Nepal Oil Corporation Reports Massive Loss of NPR 7.81 Billion in 15 Days

Kathmandu. According to the new price list received from the Indian Oil Corporation (IOC), the Nepal Oil Corporation has incurred a loss of approximately NPR 7.81 billion in the last 15 days alone.

According to the details made public by the corporation on Monday, the loss has escalated because the price of petroleum products in the international market has increased, while the selling price in Nepal has not been adjusted proportionally. 

The corporation stated that there is a loss of NPR 87.99 per liter on diesel and NPR 331.25 per cylinder on cooking LP gas. Similarly, there is a loss of NPR 2.32 on petrol and NPR 36.70 on kerosene. Likewise, there is a loss of 92 paisa per liter on domestic aviation fuel, while there is a profit of NPR 6.52 per liter on international aviation fuel.

Expressing serious concern over the negative information circulating on social media regarding fuel prices, the corporation has committed to maintaining a smooth supply system even in the current difficult situation. 

Informing that the price in Nepal will be adjusted accordingly as soon as the price of petroleum products in the international market decreases, the corporation has requested consumers to understand the reality of the situation. Stating that it is working by prioritizing consumer interests and supply management despite heavy losses, the corporation has also thanked the general consumers for their support.