The state oil monopoly has hiked the prices of petroleum products for the fourth time after incumbent Prime Minister K P Oli took the power more than three months ago.
Nepal Oil Corporation (NOC) has jacked up Rs 2 per litre in petrol, diesel and kerosene each within a distance of 15-kilometre from Thankot depot in Kathmandu Valley from today midnight, the NOC spokesperson Birendra Goit confirmed, adding that the petrol will cost Rs 110 per litre and diesel and kerosene will cost Rs 92 in the Kathmandu Valley, according to the new revised rate. "However, petrol will cost Rs 109.50 per litre in Dang and Pokhara, and Rs 108.50 per litre all over Nepal except Kathmandu Valley, Dang and Pokhara."
Likewise, diesel and kerosene will each cost Rs 92 per litre within 15-km distance from Thankot depot in Kathmandu Valley and Rs 91.50 per litre in Dang and Pokhara respectively, he added, "Diesel and kerosene will be available at Rs 90.50 except in Kathmandu Valley, Dang and Pokhara."
The NOC has, however, not increased the price of Liquefied Petroleum Gas (LPG) – popularly known as cooking gas – and aviation fuel. A cylinder of cooking gas remains static at Rs 1,375 and Air Turbine Fuel (ATF) domestic has also remained at the same price that is Rs 95 per litre.
“With the revised rate, the NOC reaches break-even point," Goit said, adding that it would otherwise have suffered Rs 320 million loss per month.
The Indian Oil Corporation (IOC) – the only supplier of the petroleum products to Nepal – sends NOC revised price list every fortnight. The price of petroleum prices in theh international market has gone up, forcing the IOC to revise the rate upwards every fortnight.
Earlier, the state oil monopoly had increased fuel prices on May 3, April 16, February 19 and February 2, though this is the eighth time that the NOC has revised the fuel prices this year.
The price of petroleum products seems to go even up forcing the otherwise controlled inflation to look up. It will make the government and central bank difficult to tame the inflation under 7 percent as targeted in the fiscal and monetary policy.
The hike in petroleum products – especially diesel – will push the price of the good up due to increased transportation cost fueling the inflation.
Nepal Oil Corporation (NOC) has jacked up Rs 2 per litre in petrol, diesel and kerosene each within a distance of 15-kilometre from Thankot depot in Kathmandu Valley from today midnight, the NOC spokesperson Birendra Goit confirmed, adding that the petrol will cost Rs 110 per litre and diesel and kerosene will cost Rs 92 in the Kathmandu Valley, according to the new revised rate. "However, petrol will cost Rs 109.50 per litre in Dang and Pokhara, and Rs 108.50 per litre all over Nepal except Kathmandu Valley, Dang and Pokhara."
Likewise, diesel and kerosene will each cost Rs 92 per litre within 15-km distance from Thankot depot in Kathmandu Valley and Rs 91.50 per litre in Dang and Pokhara respectively, he added, "Diesel and kerosene will be available at Rs 90.50 except in Kathmandu Valley, Dang and Pokhara."
The NOC has, however, not increased the price of Liquefied Petroleum Gas (LPG) – popularly known as cooking gas – and aviation fuel. A cylinder of cooking gas remains static at Rs 1,375 and Air Turbine Fuel (ATF) domestic has also remained at the same price that is Rs 95 per litre.
“With the revised rate, the NOC reaches break-even point," Goit said, adding that it would otherwise have suffered Rs 320 million loss per month.
The Indian Oil Corporation (IOC) – the only supplier of the petroleum products to Nepal – sends NOC revised price list every fortnight. The price of petroleum prices in theh international market has gone up, forcing the IOC to revise the rate upwards every fortnight.
Earlier, the state oil monopoly had increased fuel prices on May 3, April 16, February 19 and February 2, though this is the eighth time that the NOC has revised the fuel prices this year.
The price of petroleum products seems to go even up forcing the otherwise controlled inflation to look up. It will make the government and central bank difficult to tame the inflation under 7 percent as targeted in the fiscal and monetary policy.
The hike in petroleum products – especially diesel – will push the price of the good up due to increased transportation cost fueling the inflation.
No comments:
Post a Comment