The price of petroleum has risen again, so is the new rate

Kathmandu. Nepal Oil Corporation has increased the price of petroleum products. According to Binit Mani Upadhyaya, spokesperson of the corporation, the price of petrol, diesel and kerosene has been increased by two per liter.

According to the new price, petrol is now Rs 116 per liter. Similarly, diesel and kerosene have remained at 99 per liter. Similarly, the selling price of aviation fuel for domestic flights has been increased by five per liter to Rs 72 per liter.

Similarly, the price of aviation fuel has been increased by USD 25 per kiloliter to 893 per kiloliter. The retail price of LP gas for cooking has remained unchanged, the corporation said.

Even after the price adjustment, the corporation has a loss of Rs 8.42 per liter on petrol, Rs 6.56 per liter on diesel and Rs 392.82 per cylinder on LP gas. The deficit will be around Rs. 1 arab 32 crore on a semi-monthly basis and the loss will be managed from the price stabilization fund and the accumulated profit of the corporation.

Even after the price adjustment, petrol is cheaper at Rs 35.93 per liter and diesel at Rs 42.07 per liter in the Birgunj area of Nepal, which is connected to the Indian border with Raxaul. The corporation had earlier increased the price of petroleum products on Falgun 4.

The Indian Oil Corporation has stated that the price has been adjusted as per the price list sent on Saturday. It has claimed that the corporation will incur a loss of Rs 1 arab 54 crore 6 lakh in 15 days if the price is not adjusted.