Nepal braces for impact as Gulf crisis pushes oil prices
Summary
Nepal monitors the impact of escalating Middle East tensions on global oil prices, with state officials expressing cautious optimism about fuel supply despite rising costs and panic buying.
Key Points
- Global oil prices surged over 6% due to Middle East tensions, reaching highs not seen since 2025.
- Nepal's fuel supply currently remains secure, with the Nepal Oil Corporation monitoring the situation closely.
- India’s LPG supply is vulnerable as a large portion is sourced from Gulf nations amid the crisis.
- Nepal Oil Corporation may use its Price Stabilisation Fund to cushion potential shocks from rising international fuel prices.
