Massive Rs 150 Jump in Cooking Gas Prices Even as Petrol and Diesel Rates Plunge!
Nepal Oil Corporation has reduced the prices of petrol and diesel while significantly hiking the cost of cooking gas and aviation fuel. The adjustments come amid rising international oil prices caused by geopolitical tensions in West Asia.
The Nepal Oil Corporation (NOC) has implemented a new pricing structure for petroleum products, resulting in mixed impacts for consumers. According to the corporation, petrol prices have been cut by Rs 2 per liter, and diesel and kerosene have seen a larger decrease of Rs 12 per liter. In specific regions, this brings the price of petrol to Rs 214.50 per liter and diesel to Rs 222.50 per liter. However, the price of cooking gas (LPG) has surged by Rs 150 per cylinder, reaching a new rate of Rs 2,160. Aviation fuel prices have also increased, with domestic fuel rising by Rs 7 per liter and international rates increasing by USD 46 per kiloliter. The NOC stated that these revisions are necessary due to the ongoing conflict in West Asia, which has destabilized global oil markets. Despite these adjustments, the corporation expects to incur a loss of approximately Rs 1.81 billion over the next 15 days.