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Fuel price revision unlikely in Nepal despite NOC receiving petrol, diesel at reduced rates

File: An NOC fuel tanker petrol -- Fuel transporters
File: An NOC fuel tanker

Kathmandu, July 17

Despite the fuel price going down in the international market, Nepal’s state-run fuel distribution monopoly, Nepal Oil Corporation, is unlikely to make such changes in the domestic market.

The corporation says it received revised rates for petrol and diesel from the Indian Oil Corporation on Saturday. According to this, the corporation receives a litre of petrol at Rs 15.60 cheaper and a litre of diesel at Rs 16 cheaper than previous prices.

Yet, the corporation still incurs a loss of Rs 14 and Rs 22 in a litre of petrol and diesel respectively, informs the corporation’s spokesperson Binit Mani Upadhyaya.

“The price reduction in the international market is a relief for us. The corporation reducing its loss is also beneficial for the public,” he says, “Hence, there’s no situation that we immediately reduce the fuel prices.”

According to him, the corporation’s monthly loss stands at Rs 4.32 billion currently.

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