NOC reports heavy losses amid global price surge, raises aviation fuel rates
Summary
Nepal Oil Corporation reports heavy financial losses due to rising global petroleum prices and raises aviation fuel rates while keeping other fuel prices steady.
Key Points
- Nepal Oil Corporation (NOC) reported a Rs 5 billion loss in 15 days due to rising global petroleum prices.
- NOC increased domestic aviation fuel prices by Rs 124 per litre effective April 1.
- Retail prices for petrol, diesel, and LPG remain unchanged despite rising costs.
- NOC warned that continued trends could lead to biweekly losses of Rs 13.21 billion.
