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Nepal Oil Corporation again hikes fuel prices

The price of petrol in Kathmandu Valley has gone up to Rs 125 per liter, diesel and kerosene to Rs 108 per liter, and aviation fuel to Rs 80 per liter.

N24 Correspondent, KATHMANDU:- Nepal Oil Corporation 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.

The price of petrol in Kathmandu Valley 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 22 amid the ban.

The corporation claims that the new price received from the Indian Oil Corporation has increased its losses and there is no alternative to price adjustment.

According to Binit Mani Upadhyaya, spokesperson of the corporation, the price hike will be maintained from 12 noon on Saturday as per the implementation procedure of the automatic price system.

Even after the price adjustment, the corporation has a deficit of Rs 5.32 per liter in petrol, Rs 3.17 per liter in diesel and kerosene, and Rs 258.46 per cylinder in cooking gas. According to Upadhyaya, the corporation has been projected to incur a loss of at least Rs 592.8 million in the next 15 days, even when the number of vehicles was low.

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