Kathmandu. Nepal Oil Corporation has recently reduced the price of petroleum products with effect from 20th of Chaitra. The Board of Directors meeting held on 20th of Chaitra decided to reduce the price of petrol by 3 rupees, diesel, kerosene and internal aviation fuel by 10 rupees per liter and provided relief to the common consumers even though they suffered losses.

Due to fluctuations in the prices of crude and refined petroleum products in the international market, the corporation has been operating at a loss for a long time, but this time it has reduced the prices and provided good relief to the common consumers.

Although the price of crude and refined petroleum products has decreased in the international market, due to the huge past losses of the corporation, it has not been able to reduce the price in accordance with the reduced price ratio, but it has been providing petroleum products in an accessible manner all over the country by continuously reducing the price to provide relief to the consumers as much as possible.

According to the latest price list of the corporation, now the retail price of petrol is Rs.175 per liter, diesel and kerosene are Rs.165 per liter, aviation fuel (domestic) is Rs. 160, aviation fuel (external) 1.350 USD per liter and l. P. Gas per cylinder has been fixed at Rs.1800.

At this price, the corporation has a loss of Rs.545 per cylinder of LP gas, but it has continued the same price without increasing the price. This is the first time that the price of petrol, diesel, kerosene and jet fuel has fallen so much. Aviation fuel has also been reduced by Rs 10/10 per liter domestically and internationally.

The Indian Oil Corporation (IOC) sent the new price list on April 1, 2023. According to the new price list, the price of petrol has decreased by Rs.1.86 per liter and diesel by Rs.6.82 paise.

As per the IOC dispatch on March 15, 2023, the price of petrol is Rs. 0.86 paisa and diesel Rs. 1.50 had come down. Due to the recession and problems in the banking sector in the international market, the consumption of crude oil has decreased and it has been bringing down the price.

Even though the consumption is low, the price of petroleum products coming to Nepal has also decreased due to the reduction in the cost of the petroleum refining companies, according to the corporation.

Recently, the corporation has owed 17 billion rupees to the IOC and the government of Nepal for the purchase of petroleum products, 3 billion in arrears and loans, and now the arrears of the IOC and the loan of the government of Nepal are 14 billion rupees.

Even in this situation where the corporation has many more challenges to manage the IOC arrears and the government’s debt, the Nepalese people and the common consumers thank the president, directors, high managers and general employees of the corporation for facilitating the supply system by arranging the sale and distribution of petroleum products to the common consumers cheaply and easily. should be given