Nepal Oil Corporation has adjusted the prices of petroleum products, marking the fifth hike in 31 days.

The corporation said prices of diesel, kerosene and aviation fuel have been raised with effect from Thursday, while petrol and cooking LPG prices have remained unchanged at Rs 219 per litre and Rs 2,010 per cylinder (14.2 kg), respectively.

According to the new rates, diesel and kerosene have been increased by Rs 30 per litre, while aviation turbine fuel (ATF) has gone up by Rs 5 per litre.

Under the revised price structure, diesel and kerosene have been fixed at Rs 234.50 per litre in the first category, Rs 236 in the second category and Rs 237 in the third category. For domestic carriers, ATF prices have been set at Rs 262 per litre.

The first category includes Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi and Birgunj. Surkhet and Dang fall under the second category, while Kathmandu, Pokhara and Dipayal depots are in the third.

According to the corporation’s data, despite the increase, losses still stand at Rs 99.16 per litre on diesel.

The state-owned corporation said it is still incurring a 15-day loss of around Rs 5.75 billion even after adjusting customs duty and infrastructure development tax.

The corporation has hiked fuel prices five times in 31 days, including the latest revision, following rising tensions in West Asia and sustained pressure from increasing global oil prices.

The first increase after the escalation in West Asia came on March 15, when petrol was raised by Rs 15 per litre and diesel and kerosene by Rs 20 per litre. At the time, petrol cost Rs 172 per litre, while diesel and kerosene were priced at Rs 152 per litre. This means diesel and kerosene prices have jumped by around 56 percent in 31 days.

The ongoing conflict in West Asia has pushed international oil prices higher, forcing governments globally, including Nepal, to adjust domestic fuel rates. 

ATF prices have increased three times since April. The corporation raised prices to Rs 251 per litre on April 1 before increasing them by Rs 6 per litre to Rs 257 on April 10. The previous high was Rs 190 per litre on September 1, 2022. The latest price of Rs 262 per litre represents a 37.9 percent increase from that level.

Earlier, the corporation sharply increased aviation turbine fuel prices for international airlines, raising rates by 77.63 per cent to $1,716 per kilolitre in Kathmandu, with similar hikes in Pokhara and Bhairahawa.