Petrol and diesel prices rise by Rs 17 and Rs 25, respectively. NOC cites a global surge as it incurs around Rs 10.21 billion in fortnightly losses. Motorcyclists queue at a petrol pump in Akashedhara, Kapan, Kathmandu, waiting to refuel. Dipen Shrestha/TKP
Nepal Oil Corporation has adjusted the prices of petroleum products, marking the fourth hike in a month.
According to the new rates effective Friday, the price of petrol has been increased by Rs 17 per litre and diesel by Rs 25 per litre.
As per the revised price list, petrol has been fixed at Rs 216.50 per litre in the first category, Rs 218 in the second category, and Rs 219 in the third category. The price of diesel has been set at Rs 204.50 in the first category, Rs 206 in the second category, and Rs 207 in the third category.
Similarly, the price of cooking LPG has been increased by Rs 100 per cylinder.
According to the corporation’s published details, despite the price hike, losses still stand at Rs 16.65 per litre on petrol, Rs 109.50 per litre on diesel, and Rs 416.37 per cylinder on LPG.
The state-owned corporation said that even after adjusting customs duty and infrastructure development tax, it is still incurring a fortnightly loss of around Rs 10.21 billion.
The Corporation has hiked the price of petrol and diesel four times, including this one, in less than a month, following tensions in West Asia.
Diesel was priced at Rs 139 a litre in February, meaning it has jumped by 47.12 percent within a month.
The ongoing war in West Asia has pushed international oil prices higher. As a result, governments globally, including Nepal, have been forced to adjust domestic rates.
Recently, the corporation sharply increased the price of aviation turbine fuel (ATF). Prices for international airlines rose by 77.63 percent to $1,716 per kilolitre in Kathmandu, with similar hikes in Pokhara and Bhairahawa.
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