Processed fuels cost more than crude oil: NOC
Summary
The Nepal Oil Corporation clarifies that processed fuel prices exceed crude oil due to lack of domestic refining and international market rates, leading to recent price hikes and ongoing financial losses.
Key Points
- Nepal Oil Corporation states retail petroleum prices align with international market rates.
- Processed fuels cost more than crude oil as Nepal imports refined products due to no domestic refining capacity.
- Price gaps between crude oil and refined fuels have widened due to global market disruptions in the Gulf region.
- NOC increased prices for diesel, kerosene, and aviation fuel but still faces significant financial losses.
