Friday, March 10, 2017

Cooking gas price up by Rs 25 per cylinder

Claiming that it is in loss on cooking gas, Nepal Oil Corporation (NOC) has increased the price of Liquefied Petroleum Gas (LPG) by Rs 25 per cylinder.
LPG – popularly known gas cooking gas – will cost Rs 1,375 per cylinder from tonight, according to NOC spokesperson Sita Ram Pokharel.
This is the second time the NOC has raised the LPG price in the last one-and-a-half months. NOC had increased LPG price by Rs 25 per cylinder on February 2 also.
In the new price list, the sole supplier of the petroleum products to NOC – Indian Oil Corporation (IOC) – has increased LPG price by Rs 122 per cylinder. "With this adjustment in price, NOC has to bear a loss of Rs 333 on the sale of each cooking gas cylinder,” he added. "But the price increment, NOC will still suffer loss of Rs 291.50 per cylinder in a month."
The fresh upward adjustment in price has been made due to price movement in the international market, he said, adding that the corporation had to increase price of LPG after IOC increased price of the popular cooking fuel. "With the revised price, the loss has come down to Rs 288.51 per cylinder."
NOC, however, has kept the price of diesel, petrol and kerosene unchanged. The state oil monopoly is logging profits in sale of petrol, kerosene and aviation turbine fuel, while it is suffering loss in diesel and cooking gas. The corporation is making profits on other petroleum products – Rs 1.23 per litre on petrol, Rs 13.05 per litre on kerosene and Rs 13.01 per litre on aviation turbine fuel – though it claims to be incurring a loss of Rs 4.07 per litre on diesel.

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