Petroleum product price hike

Kathmandu – Nepal Oil Corporation has increased the price of petroleum products. The corporation has increased the price of petrol by 5 rupees and diesel and kerosene by 4 rupees.

The corporation has also increased the price, citing the increase in prices from Indian Oil Corporation.

According to the new price, petrol has reached 165 per liter, while diesel and kerosene have reached 149 per liter.

Similarly, the international price of aviation fuel has increased by 51 US dollars per kiloliter, according to the corporation.

Motihari-Amlekhgunj Petroleum Pipeline Construction Completed: Petrol and Kerosene Imports Begin

Kathmandu — The construction of the petroleum pipeline from Motihari, India, to Amlekhgunj, Bara has been completed. With the completion of the pipeline expansion work, testing for the import of petroleum products has also begun, said Pralayankar Acharya, Chief of the Madhesh Provincial Office of Nepal Oil Corporation, Amlekhgunj.

He said that 5,500 kiloliters of petrol and 1,000 kiloliters of kerosene have been imported through the pipeline that was expanded for the time being to test the pipeline, and the petroleum products brought through the pipeline are being tested. He informed that necessary preparations are also being made for the regular import of petroleum products through the pipeline.

Although it is said that regular import of petroleum products through the pipeline will begin from January 2025, he said that there will be a delay of a few days as the necessary preparations have not been completed.

Under the pipeline expansion project, Indian Oil Corporation has constructed two petrol tanks with a capacity of 4,100 kiloliters, two transmix tanks with a capacity of 250 kiloliters, 24 fully automatic loading way-refillers for transporting petrol, a pump house and a laboratory at the depot in Amlekhgunj.Under the same project, the fire fighting system has been upgraded, an OWS system for separating water and oil, and a PMCC chamber have also been constructed.

Similarly, Indian Oil Corporation has constructed two transmix tanks to store mixed fuels that can be both petrol and diesel, and a firewater tank with a capacity of 3,000 kiloliters for security inside the depot.

The first phase of the project has been completed and diesel has been imported through the pipeline since Bhadra 25, 2076 BS. It has been stated that petrol and kerosene will also be imported through the pipeline after the completion of the second phase of the project.

Office Chief Acharya says that importing petroleum products through the pipeline will result in zero technical losses, save on transportation costs, and help reduce environmental pollution.

With the completion of this project, the storage capacity of diesel at the Amlekhgunj depot will reach 24,840 kiloliters and the storage capacity of petrol will reach 16,630 kiloliters.

Increase in price of petroleum products

Kathmandu – Nepal Oil Corporation has increased the price of petroleum products. The corporation has increased the price of petrol, diesel,Kerosene and LP gas.

According to the decision of the board of directors meeting of the corporation, the price of petrol, diesel, kerosene and LP gas has been increased so that the new price will be effective from 1 am on february 1st.

According to the corporation, per liter petrol has been increased by Rs.4, diesel-kerosene by Rs.2 and LP gas by Rs.15.

According to the new purchase price received from Indian Oil Corporation, the price of petroleum products has been increased.

Hike on fuel price

Nepal oil corporation has increased the price of fuel with effect from midnight on Thursday.
Petrol price has gone up by Rs 8 per liter and kerosene and diesel by Rs 12 per liter, according to the Nepal Oil Corporation.
The board of directors of the corporation has decided to increase the price saying that the price of fuel has increased in the international market and the arrears due to the Indian Oil Corporation have piled up.

Now, a liter of petrol will cost Rs 178 while kerosene and diesel will cost Rs 165. Even after price adjustment, the corporation claims a loss of Rs 24.70 on petrol and Rs 18.01 on diesel.

Hike on fuel price

Nepal Oil Corporation has increased the price of petroleum products. Changes on fuel price will be in effect from midnight today.

Petrol, diesel and kerosene prices have been increased by Rs 10 per liter.Accordingly, the price of petrol in will now be Rs. 170 per liter.

Similarly, the price of diesel and kerosene has reached Rs 153 per liter.

Government to provide Rs 4.20 billion to Nepal Oil Corporation

The government has decided to provide Rs 4.20 billion to the Nepal Oil Corporation from the Price Stabilization Fund.

The government will provide the amount to Nepal Oil Corporation as it does not have enough fund to pay for the fuel purchase. The corporation will have to pay Rs 19.47 billion to the IOC for the purchase of fuel next Friday, while the corporation has only Rs 13 billion at present.

NOC has been paying IOC every 15 days. The corporation has been incurring a loss of Rs 9 billion every month and Rs 33 billion in the current fiscal year alone.

Crowd been growing in pumps on the fear of petroleum products shortage

Even though the movement of petroleum businessmen has been withdrawn, the crowd at petrol pumps remains the same.

Petroleum businessmen, who had stopped loading and unloading fuel had withdrawn their agitation on Saturday after reaching a four-point agreement with the Nepal Oil Corporation. But the crowd that has been growing since Saturday on the fear of shortage of petroleum products due to the strike of petroleum businessmen remains the same even today all over the country.

The LP Gas Industry Association, Petroleum Dealers Association, and Petroleum Transporters were in agitation demanding automatic fares to reduce the price ratio of diesel in external and internal freight rates.

National Association of Petroleum Dealers to stop the sale of fuel

Petrol pump operators across the country have stopped buying petroleum products, disrupting the fuel supply system.

According to the Nepal Petroleum Dealers National Association, an association of petrol pump businessmen, the decision was taken in protest of the reduction in commission received by the Nepal Oil Corporation.

A meeting of the corporation’s board of directors had decided to reduce the commission being paid in percentage through the price structure.

Spokesperson of Nepal Ayal Nigam Binit Mani Upadhyaya said that the dealers have decided to stop the sale of fuel after announcing it.

According to the depot, fuel has not been recovered from Thankot Depot, one of the largest suppliers of fuel in the Kathmandu Valley, since today morning.

Nepal Oil Corporation claims loss despite the increases in fuel price

Petroleum prices have risen to a record high. Nepal Oil Corporation has increased petrol, diesel and kerosene prices by Rs 5 each with effect from 12 midnight on Thursday. Now, petrol has reached Rs 150 per liter, diesel Rs 133 and kerosene Rs 133.

According to a new list sent by the Indian Oil Corporation, the price has been adjusted. The government has not shown any interest in providing relief by reducing unnecessary taxes on fuel even though the prices have been increased beyond the means of subsistence. Petrol purchased from IOC at Rs 93.76 is taxed at Rs 59.48 and diesel at Rs 94.12 is taxed at Rs 42.16. Similarly, kerosene purchased at Rs 88.83 is taxed at Rs 13.36 and gas purchased at Rs 1641.23 is taxed at Rs 280.30. Apart from that, the selling price is fixed by adding the corporation’s expenses, transportation fare, petroleum seller’s expenses / profit.

The corporation has stated that there is still deficit in fuel. The corporation claims a loss of Rs 16.28 on petrol and Rs 11.78 on diesel. In kerosene, the corporation has a profit of Rs 19.51 per liter. Even if Rs 15 per liter tax is added in the name of infrastructure, such savings are not in the government coffers. Initially, funds were raised in the name of Budhigandaki hydropower project, but the project has not started. Officials of the Ministry of Finance claim that the money was spent on various infrastructures.

The corporation’s 15-day loss was Rs 3.9 billion due to lack of price adjustment,” said Pushkar Karki, co-spokesperson of the corporation. The 15-day loss is now estimated at Rs 2.5 billion.