Nepal Oil Corporation has raised the prices of fuel effective from today (15th May, 2022). The revised prices are NRS 170 per litre of petrol and NRS 153 per litre of diesel and kerosene. Prices of LPG and aviation fuel remain unchanged.
Nepal Oil Corporation has said they are forced to increase the prices considering the rise of crude oil in the global market. NOC maintains despite the price hike, they will incur a loss of Rs 4.25 billion over the next fortnight.
NOC has also said that a sum of NRS 31 billion for fuel imports by 23rd May – and that it was short by 12.49 billion payment of its 25 billion commitment on 8th May.
Incidentally, Sunday’s price hike falls on the day Nepal two-day probationary two day weekends are to begin. The Home Ministry, after much deliberation had decided to introduce a two day weekend to curb fuel consumption.
