Nepal Oil Corporation Reports Massive Loss of NPR 7.81 Billion in 15 Days
Summary
Nepal Oil Corporation has reported a massive loss of NPR 7.81 billion in 15 days due to international petroleum price hikes not reflected in local fuel prices, while assuring continued supply and eventual price adjustments.
Key Points
- Nepal Oil Corporation incurred a loss of NPR 7.81 billion in the last 15 days due to rising international petroleum prices.
- Losses per product include NPR 87.99 per liter on diesel and NPR 331.25 per cylinder on cooking LP gas.
- Nepal's fuel prices have not been proportionally adjusted to international market increases.
- The corporation commits to maintaining fuel supply and will adjust prices downwards when international prices fall.
