Nepal Oil Corporation (NOC) has decided to provide petroleum products directly from its depots to industries and big consumers but at Rs 95 per litre.But the market price is Rs 76 per litre in Kathmandu valley.
The NOC board meeting today decided to sell diesel in dual price also to provide relief to industries from prolong energy crisis– load shedding up to 16 hours. NOC estimates its loss from petroleum products will be almost Rs 1.26 billion in December following rising oil price in international market. It has been bearing a cumulative loss of over Rs 11 billion. Industrialists and big business houses have been demanding direct supply of petroleum products from NOC depot from years.
Similarly, they will have to pay around Rs 84 per liter for kerosene. The NOC had equalised the price of diesel and kerosene after a huge pressure from the dealers and consumers that it has increased adulteration. But for the consumers the kerosene and diesel prices are still equal.
The state oil monopoly’s decision is going to increase the cost of production and operation cost of the industries and development projects as one of the key component fuel price has been hiked by 25 per cent.