Kathmandu, March 17: The Nepal Oil Corporation (NOC) has reduced the price of petrol, diesel, and kerosene each by Rs 2 per liter and domestic aviation fuel by Rs 4.50 per liter.
As per the revised price that has come into effect from Monday midnight (March 16), the price of petrol is Rs 106 per liter whereas the diesel and kerosene cost Rs 97 per liter each. Similarly, the price of aviation turbine fuel is Rs 90 per liter.
The global onset of coronavirus and the conflict between Saudi Arabia and Russia over oil price strategy is attributed to a decline in the petroleum prices in the Nepali market.
According to the oil monopoly, the new price structure will help augment its fortnightly profit to Rs540 million or more than Rs1 billion monthly.
However, consumer rights activities have termed the latest decision on the part of the NOC as unjustifiable and insensitive. “Even though the price of fuel has gone down by more than 25 percent in the international market, the NOC has reduced only Rs2 on a liter. It seems the corporation is engrossed in duping the consumers in these times of coronavirus crisis,” they bemoan.
Meanwhile, the Kathmandu valley has started to reel under the shortage of petroleum products due to the unwillingness on the part of fuel entrepreneurs to sell petroleum products at lower prices. A number of privately-owned petrol pumps in the valley are closed while the long queues of consumers are seen at the pumps operated by Nepal Army, Nepal Police and Sajha Cooperatives
