Supply of petroleum products eases following agreement

KATHMANDU: APRIL. 4 – The supply of petroleum products in the local market has eased following an agreement between the protesting petroleum entrepreneurs and the Nepal Oil Corporation, the state-owned trading enterprise of the country that imports, stores and distributes petroleum products.

Government petrol stations across the country were jam-packed after the private petrol stations in protest halted picking up petroleum products from the NOC, thus creating a shortage of the products.

The Nepal Petroleum Dealers’ National Association protested the decision of the NOC not to increase the commission amounts received by private petrol stations reasoning that it has incurred a huge loss with the rising prices of petroleum products in the international market.

Following the agreement, the supply of petroleum products in the market has eased since today morning. The NOC today delivered 1,600 kiloliters of petrol and 1,100 kiloliters of diesel to the local market, said its spokesperson Binit Mani Upadhyay.

A decision on the commission amounts and the supply of LP gas would be taken within seven days and other demands of the Association would be addressed by May 29, according to the agreement.