Kathmandu: A huge increase in the price of petrol by Rs 31, diesel by Rs 54 and LP gas cylinder by Rs 296 in Nepal. Citing the current situation in Gulf countries along with Iran and America-Israel war, a huge increase in the price of petroleum products has been announced in Nepal.
The decision to increase the prices of petroleum products was taken in the meeting of Nepal Oil Corporation which lasted till Sunday night. According to the press release issued by the corporation, this decision has been taken due to rising prices in the international market and challenges in supply management. The new rates have been implemented from 12 o’clock tonight.
According to the new price adjustment, the price of petrol has been increased by Rs 31 per liter, diesel by Rs 54 per liter and LPG gas by Rs 296 per cylinder. After the price increase, now the price of petrol has been fixed at Rs 188 per liter, diesel at Rs 196 per liter and LPG gas at Rs 2,126 per cylinder.
The corporation has said that in recent times, due to increasing tension in the Middle East and West Asia, there has been a sharp increase in the prices of petroleum products in the international market, which has increased the pressure on the supply system. The press release also states that for a non-petroleum producing country like Nepal, international price rise has a direct impact. Earlier also the supply system had been affected due to global conditions and the corporation had faced difficulties in making payments to the Indian Oil Corporation.
The Corporation has expressed its gratitude to the Indian Oil Corporation for continuing the supply of petroleum products to Nepal even in the present times. Nepal Oil Corporation has said that considering the international market situation, this adjustment has been made in the prices of petroleum products so that the supply system can be kept smooth.
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