Petrol price dropped by Rs 1 rupee 48 paise per liter, 5 billion loss to corporation in 15 days

KATHMANDU: APRIL. 2 – Indian Oil Corporation (IOC) has adjusted the price of petroleum products. According to the Nepal Oil Corporation, the IOC on Friday adjusted the price as per the general increase in the price of petroleum in the international market.

Petrol has been reduced by Rs 1 rupee 48 paise per liter, according to the new price. Other than petroleum, the corporation has stated that prices have risen. Diesel has increased by Rs 0.02, kerosene by Rs 22.19, and aviation fuel by Rs 4.23, according to the corporation. Similarly, the price of LP gas has risen by Rs 273.38 per cylinder.

The corporation has stated that the new price adjustment will result in a loss of Rs 5.21 billion over the next 15 days.

Since the March 16 price adjustment, the corporation has not raised the price of petroleum. According to the most recent adjustment, petrol costs Rs 155 per liter and diesel costs Rs 138 per liter.

According to the new price, the corporation is in a position to lose more than Rs 10 billion per month.

The corporation has incurred a loss of about Rs 32 billion so far in the current fiscal year.