Nepal Oil Corporation Keeps Fuel Prices Unchanged Despite Higher IOC Rates
Summary
Nepal Oil Corporation has kept domestic fuel prices unchanged even after IOC raised import prices, citing the impact of the Bhote Koshi floods and other natural disasters. The decision will likely cost the corporation about Rs. 1.9169 billion over 15 days if international prices keep rising.
Key Points
- Nepal Oil Corporation kept petrol and diesel prices unchanged despite a higher purchase price from Indian Oil Corporation.
- The decision was influenced by the recent Bhote Koshi River floods and broader natural disaster-related pressures.
- LPG prices for consumers within 50 kilometres of LPG industries have been reduced, while aviation fuel prices remain unchanged.
- NOC expects to absorb about Rs. 1.9169 billion in losses over 15 days if retail prices stay flat.
