IOC sends increased new price list of petroleum products to NOC

Kathmandu, June 17

The price of fuel has increased in the latest revised price list sent by the Indian Oil Corporation (IOC), the sole supplier of fuel to the Nepal Oil Corporation (NOC).

As per the new price list, the price of petrol, diesel and aviation fuel has increased by Rs 6.52, Rs 19.3 and Rs 91.91 per liter respectively.

At present, petrol is priced at Rs 178 per liter while diesel and kerosene are priced at Rs 165 in Nepal. Similarly, aviation fuel is being traded at Rs 166 and USD 1.54 per liter (domestic and international, respectively). Cooking gas or LPG is bought for Rs 1,800 per filled cylinder.

After adjustment of the new price list sent by the IOC, petrol, diesel and kerosene will cost Rs 209.28, Rs 202.16 and Rs 147.99 per liter, respectively with various taxes included.

Similarly, the price of aviation fuel will reach Rs 168.70 (domestic) and Rs 147.89 (international) per liter while cooking gas will be priced at Rs 2,551.15 per filled cylinder.

Currently, Nepal incurs a loss of Rs 31.28 per liter in petrol, Rs 37.16 per liter in diesel, Rs 2.70 per liter in aviation fuel (domestic) and Rs 751.14 in LP gas.

The NOC is projected to incur around Rs 4.71 billion from the total losses fortnightly (Rs 950 million loss in petrol, Rs 2.9 billion in diesel, Rs 6.6 million in aviation fuel (domestic) and Rs 1.1 billion in LP gas), said NOC Spokesperson Binit Mani Upadhyay.

However, NOC has profits in aviation fuel (international) and kerosene. The state-owned oil monopoly earns a profit of Rs 17.1 per liter in kerosene and Rs 44.63 in aviation fuel (international).