The prices of petrol and diesel from India have increased slightly, which will likely to hit the profit of the Nepal Oil Corporation (NOC).
According to the new price list of petroleum products sent by Indian Oil Corporation (IOC), petrol has increased by 86 paisa per liter and diesel by 34 paisa per liter.
According to the new price list sent by India, Nepal Oil Corporation (NOC)’s benefit will be limited to Rs 1.75 billion in the next 15 days. It is seen that the NOC will now get a profit of Rs 3.5 billion per month.
According to the NOC, the profit will be Rs 12 per liter of petrol and Rs 15 per liter of diesel if the price remains the same.
In the international market, crude oil prices have increased as oil producing companies have decided to cut production. Thus, according to the new price list sent by IOC every 15 days, the price of petroleum products has increased.
Despite calls from ordinary consumers to adjust the prices of petroleum products, NOC has remained reluctant to do this.
