Nepal Oil Corporation Keeps Fuel Prices Unchanged Despite Higher Import Costs
Summary
Nepal Oil Corporation has kept petroleum retail prices unchanged despite sharp increases in import costs from the Indian Oil Corporation. The decision comes amid Middle East volatility, Bhotekoshi floods and landslides, and the upcoming festive season.
Key Points
- Nepal Oil Corporation decided not to raise retail fuel prices even after IOC's latest purchase prices rose sharply.
- The corporation cited volatile international oil markets, the Bhotekoshi floods and landslides, and consumer concerns ahead of the festive season.
- NOC estimates a fortnightly loss of about Rs. 3.20 billion under the current pricing arrangement.
- Petrol, diesel, kerosene, aviation fuel and LPG rates will remain unchanged across all pricing categories.
