KATHMANDU, SEP 03 -
Nepal Oil Corporation on Sunday raised the prices of petroleum products.
The new rates that followed a board meeting on Sunday night will come into effect on Monday. The state-owned oil monopoly has raised Rs 5 on a litre of petrol, Rs 4 on a litre of diesel and kerosene and Rs 55 on a cylinder of Liquefied Petroleum Gas (LPG). With the revised prices, petrol will now cost Rs 125 per litre and diesel/kerosene Rs 97 per litre. The price of an LPG cylinder will cost 1,470.
According to a source at the NOC, the rise in prices of oil in the international market compelled the NOC to effect the hike.
The monthly projected loss of the NOC balloned three folds to Rs 1.17 billion as per the oil tariff sent by the Indian Oil Corporation on Saturday.
NOC’s loans to the government and banks and financial institutions currently stand over Rs 26 billion. The last time NOC revised fuel prices was on June 20.
Nepal Oil Corporation on Sunday raised the prices of petroleum products.
The new rates that followed a board meeting on Sunday night will come into effect on Monday. The state-owned oil monopoly has raised Rs 5 on a litre of petrol, Rs 4 on a litre of diesel and kerosene and Rs 55 on a cylinder of Liquefied Petroleum Gas (LPG). With the revised prices, petrol will now cost Rs 125 per litre and diesel/kerosene Rs 97 per litre. The price of an LPG cylinder will cost 1,470.
According to a source at the NOC, the rise in prices of oil in the international market compelled the NOC to effect the hike.
The monthly projected loss of the NOC balloned three folds to Rs 1.17 billion as per the oil tariff sent by the Indian Oil Corporation on Saturday.
NOC’s loans to the government and banks and financial institutions currently stand over Rs 26 billion. The last time NOC revised fuel prices was on June 20.
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