Nepal Oil Corporation (NOC) has again increased the price of petroleum products. The price of diesel, petrol, kerosene, and domestic aviation fuel has been increased by Rs 2 per liter, according to the Nepal Oil Corporation. After the price hike, the price of petrol has gone up to Rs 125 per liter, diesel and kerosene to Rs 108 per liter, and aviation fuel to Rs 80 per liter. The corporation had also increased the price of fuel on May 16 amid prohibitory orders.
The corporation claims that the corporation has incurred a loss due to the new price received from the Indian Oil Corporation and there is no alternative to price adjustment. Binit Mani Upadhyaya, the spokesperson of the corporation, said that the price hike will be maintained from midnight on Saturday as per the implementation procedure of the automatic price system and the corporation is still at a loss even after the price adjustment.
Even after the price adjustment, the corporation has a deficit of Rs 5.32 per liter on petrol, Rs 3.17 per liter on diesel and kerosene, and Rs 258.46 per cylinder on cooking gas, he said. Upadhyay said that the corporation has been projected to incur a loss of at least Rs 592.8 million in the next 15 days, even when the vehicles were running less on prohibitive orders.
