Price of gasoline will not decline: NOC

KATHMANDU: The Nepal Oil Corporation (NOC) has stated that fuel prices will not decrease4 immediately.

The corporation stated that there is still a deficit in the price of fuel and that the price should remain unchanged in order to pay the previous arrears.

“According to the new price list received last time, it is seen that the corporation will incur a loss of 635.8 million rupees in another 15 days,” the corporation said in a statement issued on Wednesday.

The Corporation also stated that the Indian Oil Corporation (IOC) still owes the Corporation 23 billion for the purchase of fuel. The corporation has also asked the public to reduce their use of expensive fuel.