Fuel price revision unlikely in Nepal despite NOC receiving petrol, diesel at reduced rates

Kathmandu, July 17

Regardless of the gas value happening within the worldwide market, Nepal’s state-run gas distribution monopoly, Nepal Oil Company, is unlikely to make such adjustments within the home market.

The company says it acquired revised charges for petrol and diesel from the Indian Oil Company on Saturday. Based on this, the company receives a litre of petrol at Rs 15.60 cheaper and a litre of diesel at Rs 16 cheaper than earlier costs.

But, the company nonetheless incurs a lack of Rs 14 and Rs 22 in a litre of petrol and diesel respectively, informs the company’s spokesperson Binit Mani Upadhyaya.

“The worth discount within the worldwide market is a reduction for us. The company decreasing its loss can also be useful for the general public,” he says, “Therefore, there’s no scenario that we instantly cut back the gas costs.”

Based on him, the company’s month-to-month loss stands at Rs 4.32 billion at the moment.