Fuel Prices Rise Again Amid Global Market Surge

The Nepal Oil Corporation has significantly increased the prices of petroleum products, effective from 12:00 AM Friday. According to the decision of its board of directors, the prices of petrol, diesel, kerosene, cooking LPG gas, and aviation fuel have all been raised. Petrol prices have increased by Rs. 17 per liter, while diesel and kerosene have gone up by Rs. 25 per liter each. Similarly, the price of LPG has been raised by Rs. 100 per cylinder, and domestic aviation fuel has increased by Rs. 6 per liter. With the new rates, petrol now costs Rs. 219 per liter, diesel and kerosene Rs. 207 per liter, LPG Rs. 2010 per cylinder, and domestic aviation fuel Rs. 257 per liter in the Kathmandu Valley. The corporation stated that the price hike was necessary due to continuous increases in international fuel prices driven by ongoing conflicts in the Middle East. Despite partial tax relief from the government, losses could not be controlled. The corporation claims it will still incur a biweekly loss of around Rs. 10.21 billion and has urged consumers to use petroleum products more efficiently.