Nepal Oil Corporation has increased the prices of diesel, kerosene, and aviation fuel. The decision was made by the corporation’s board meeting and will come into effect from the morning of Baisakh 3.
According to the notice, the price of diesel and kerosene has been increased by NPR 30 per liter, while aviation fuel (domestic) has been raised by NPR 5 per liter. However, the price of petrol has been kept unchanged for now.
The corporation stated that the adjustment was necessary due to the continuous rise in international petroleum prices and an increase in the latest purchase rates from the Indian Oil Corporation. Even after the price hike, the corporation said it will still incur a loss of NPR 9.16 per liter on diesel.
In the past 15 days alone, the corporation reported a loss of around NPR 7.81 billion. Even with the new adjustment, it estimates a biweekly loss of about NPR 5.75 billion. The corporation has also urged consumers to use petroleum products sparingly.
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