Petroleum Prices Remain Unchanged: NOC to Incur Biweekly Loss of Rs 1.91 Billion
Nepal Oil Corporation has decided to keep petroleum product prices unchanged. Despite a price increase from Indian Oil Corporation, prices were not raised considering the situation caused by the Bhote Koshi flood. This is estimated to cause a biweekly loss of Rs 1.91 billion to the corporation.
Kathmandu — Nepal Oil Corporation (NOC) has decided to keep the prices of petroleum products unchanged. Although a new price list was received from Indian Oil Corporation (IOC), NOC has decided not to increase prices to provide relief to consumers.
According to the new price list from IOC, petrol has increased by Rs 12.40 and diesel by Rs 4.68 per litre. However, NOC stated that it decided to keep prices stable considering the situation created by the Bhote Koshi flood.
With this decision, the prices of petrol, diesel, and kerosene will remain as follows:
- First category: Rs 197.50 per litre
- Second category: Rs 199 per litre
- Third category: Rs 200 per litre
Similarly, the price of LP gas remains unchanged at Rs 2,060 per cylinder.
Even though prices have risen in the international market, NOC estimates a biweekly loss of Rs 1.91 billion (1 arba 91 crore 69 lakh) by keeping prices stable in Nepal.