Nepal sees mixed fuel price shift: Petrol up by Rs 8.5/l, diesel Rs 7.5/l, LPG drops by Rs 100/cylinder

Nepal sees mixed fuel price shift: Petrol up by Rs 8.5/l, diesel Rs 7.5/l, LPG drops by Rs 100/cylinder
By Republica
Published: August 01, 2023 04:15 PM

KATHMANDU, Aug 1: The Nepal Oil Corporation (NOC) reported a rise in the prices of petroleum products imported from India as per the new list sent by the Indian Oil Corporation, the sole supplier of petroleum products to NOC. 

Petrol prices have increased by Rs 8.5 per liter, while diesel prices have risen by Rs 7.61 per liter. Similarly, kerosene prices have gone up by Rs 7.5 per liter, and jet fuel prices have increased by Rs 8 per liter.

However, there is some relief for consumers as the price of cooking gas has decreased by Rs 100 per cylinder, according to the NOC.

Under the automatic selling price system implemented by the NOC since the last fiscal year, petroleum prices are subject to fluctuation. On July 16, an automatic sales system was put in place with a 2 percent margin on diesel and 2.5 percent on petrol. Consequently, the prices of petroleum products are adjusted based on the new price list received from India on the 1st and 16th of each month.

Considering the current update on petroleum prices from India, NOC anticipates a Rs 9 to Rs 10 per liter increase in petrol prices, while the gas price will see a decrease of Rs 100 per cylinder. The corporation's board of directors is set to hold a meeting to finalize these price adjustments, following which the NOC will officially announce the new prices for petroleum products. 

 

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