Weekly loss of Rs 100 crore, but we did not increase the price: Corporation

KATHMANDU: MONDAY, MAY 3, 2021 – Nepal Oil Corporation has stated that the price of petroleum has gone up. The corporation has stated that the price of petroleum has gone up as per the purchase price made by Indian Oil Corporation on Saturday (May 1, 2021).

A spokesperson of the corporation, Binit Mani Upadhyaya, claimed in a press release that there was a loss of Rs 8.76 per liter on petrol, Rs 3.42 per liter on diesel and Rs 375.13 per cylinder on LP gas. As a result, the corporation is likely to lose Rs 100 crore on a fortnightly basis.

‘In the above situation, the price adjustment should be done as per the Automated Price Implementation Procedure for Petroleum Products, 2071, but at present, the second wave of COVID-19 could lead to a dire situation in the overall economic situation of the country. The decision to keep the selling price of petroleum products and LP gas unchanged is aimed at helping the economy, the press release said.