Petroleum Prices Remain Unchanged, Nepal Oil Corporation Faces Fortnightly Loss of Over Rs 1.91 Billion

Dragon Media News Desk

Nepal Oil Corporation has decided not to increase retail prices of petroleum products for the time being, despite higher purchase prices from the Indian Oil Corporation. The corporation said existing prices would remain in effect from Bhadra 31, taking into account the difficult situation created by the extraordinary flooding in the Bhotekoshi River and the need to avoid placing an additional burden on consumers.

According to the new purchase prices received on Bhadra 30, the cost of petrol increased by Rs 12.40 per litre and diesel by Rs 4.68 per litre. Although international petroleum prices continue to fluctuate amid the ongoing war in the Middle East, the corporation has decided not to adjust consumer prices for now.

Under the decision, the retail prices of petrol, diesel and kerosene will remain at Rs 197.50 per litre in first-category areas, Rs 199 in second-category areas and Rs 200 in third-category areas. The first category includes Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj. Surkhet and Dang fall under the second category, while Kathmandu, Pokhara and Dipayal are in the third category.

The price of aviation fuel for domestic flights will remain at Rs 249 per litre, while international aviation fuel in Kathmandu will remain at US$1,697 per kilolitre. The price of a 14.2-kilogram LPG cylinder will also remain unchanged at Rs 2,060.

By keeping retail prices unchanged despite the increase in purchase costs, Nepal Oil Corporation is expected to incur a fortnightly loss of Rs 1.9169 billion.