Nepal Oil Corporation Hikes Fuel Prices to Record High

The Nepal Oil Corporation has increased petroleum prices significantly, pushing petrol prices to a record high in Nepal.

According to the corporation, the decision was made during a board meeting held on Chaitra 19, and the new prices came into effect from 12:00 AM Thursday.

New Fuel Prices in Kathmandu

Under the revised pricing:

• Petrol: Rs 202 per liter
• Diesel: Rs 172 per liter
• Kerosene: Rs 172 per liter

This marks the highest petrol price ever recorded in the country, directly impacting daily commuters and businesses.

Reason Behind Price Hike

The corporation stated that the increase is due to rising fuel costs in the international market. Ongoing tensions and conflict in the Middle East have caused a steady surge in global oil prices.

As a result, Nepal Oil Corporation is facing a fortnightly loss of around Rs 13.21 billion, making the price adjustment necessary to manage financial pressure.

LPG Gas Price Remains Unchanged

Despite increasing prices of petrol, diesel, and kerosene, the corporation has decided to keep cooking gas (LPG) prices unchanged.

Officials said this step was taken to provide some relief to the general public. However, the corporation is still incurring a loss of over Rs 416 per gas cylinder.

Impact on Daily Life

The fuel price hike is expected to have a direct impact on:

• Transportation costs 🚗
• Public vehicle fares 🚌
• Prices of goods and services 📦

Experts believe this could increase overall inflation and put additional pressure on consumers.

With petrol prices crossing the Rs 200 mark, this hike highlights the growing challenge Nepal faces due to global fuel price fluctuations. While keeping LPG prices unchanged offers slight relief, rising transport and living costs may affect households across the country.

Explore more : https://nepinsights.com/business-economy/petrol-price-in-nepal-today