July 4, 2023, 12:02 am Citing a decline in its procurement costs, the state oil monopoly has slashed the price of petroleum products effective from Monday midnight.
Nepal Oil Corporation has reduced the price of petrol, diesel and kerosene by Rs 5 per litre in Kathmandu, Pokhara and Dipayal, confirms the corporation. “Likewise, the cost of petroleum products in Terai has been slashed by Rs 7.5 per litre, while in Surkhet and Dang, fuel prices have been reduced by Rs 6 per litre.”
The price has been adjusted by dividing country’s territory in three categories, according to the corporation.
The corporation’s board meeting today evening decided to reduce the price, informed the spokesperson of the corporation Manoj Thakur.
Claiming that the corporation has determined the price according to a scientific system, Thakur said that the corporation has included Terai — including Charali, Biratnagar, Janakpur, Birgunj, Amlekhgunj, Bhalwari, Nepalgunj and Dhangadhi — in the first category, whereas Surkhet and Dang are in the second category. “Likewise, Kathmandu, Pokhara and Dipayal are included in the third category.”
Petrol is being sold at Rs 175 per liter, while diesel and kerosene are priced at Rs 155 per liter each, at present.
But according to the new adjusted price, petrol will cost Rs 170 per litre and diesel and kerosene will cost Rs 150 per litre in Kathmandu, Pokhara and Dipayal. Likewise, the consumer price of petrol will be Rs 167.5 per litre, whereas the price of diesel and kerosene will be Rs 147.5 per litre in Terai. In Surkhet and Dang, the consumer will have to pay Rs 169 for a litre of petrol and Rs 149 for a litre of diesel and kerosene.
The state oil monopoly has, however, kept the price of LPG — popularly known as cooking gas — unchanged at Rs 1,800 per cylinder despite the price of LPG has gone down this time.
The corporation has also reduced the price of aviation fuel. The price of domestic aviation turbine fuel (ATF) has been reduced by Rs 14 from Rs 150 per litre and the price of international ATF has been slashed to $1.035 per liter from $1.15 per litre.
The corporation gets new price list every 15 days from its sole supplier, Indian Oil Corporation (IOC). On July, the NOC received the reduced new price list. Despite profits, the state oil monopoly has been reluctant to slash the price citing its accumulative loss.
