NOC keeps fuel prices unchanged
Summary
The Nepal Oil Corporation has kept petroleum product prices unchanged despite sharp rises in procurement costs, citing the impact of the Bhotekoshi floods and the approaching Dashain and Tihar festivals. The decision is expected to create heavy losses, but the corporation says it will use the Price Stabilisation Fund to maintain supply.
Key Points
- The Nepal Oil Corporation decided to keep retail fuel prices unchanged even as procurement costs from the Indian Oil Corporation rose sharply.
- NOC estimates it will lose around Rs. 3.20 billion fortnightly if current retail prices are maintained, with losses also expected from LPG sales.
- The corporation said the decision reflects the effects of the Bhotekoshi floods, the upcoming Dashain and Tihar festivals, and consumer interests.
- LPG supply in the Kathmandu Valley has eased, with daily complaints dropping sharply and distribution improving through smoother transport and bottling operations.
