Massive price hike in petroleum products

petrolprice

Nepal Oil Corporation has increased the price of petrol by Rs. 10, diesel by Rs. 6 and kerosene by Rs. 6 per litre.

Nepal Oil Corporation has hiked the prices of petroleum products on Friday morning. NOC has increased the price of petrol by Rs. 10, diesel by Rs. 6 and kerosene by Rs. 6 per litre.

A meeting of the corporation’s board today morning made the decision.

“The corporation is reeling under loses,” said Sagar Satyal, officiating managing director of NOC. “It was necessary to increase the prices.”

The previous selling prices per litre was Rs.130 for petrol, Rs. 103 for diesel and Rs.103 for kerosene. At this rate, NOC was profiting Rs. 2.82 from petrol and Rs. 5.67 from kerosene. But was suffering a loss of Rs. 10.30 in diesel.

Now, petrol will sell for Rs. 140, diesel for Rs. 109 and kerosene for Rs. 109.

NOC suffers heaviest loss in LPG cylinders. At a selling price of Rs. 1470 per cylinder NOC bears a loss of Rs. 864.92. The corporation has implemented a rule of dual coloured LPG cylinders for households and commercial use and plans to differentiate the prices according to offset the loss.

Related Post

Two new cooking gas companies enter Nepali market At a time when investors are complaining about lack of investment climate, the country is ready with the 27th cooking gas industry — Sugam Gas Indus...
Petrol Diesel Price in Nepal – Feb 2019 Oil-Gas Price in Nepali Market 2019 Feb 2: Nepal Oil Corporation (NOC) has increased the prices of petrol, diesel and kerosene on Saturday. Accord...
Diesel provides 531 MW of electricity Nepal Oil Corporation (NOC) has claimed that the country has been generating around 531 megawatt (MW) of electricity through the use of diesel. The...
Nepal Oil Corp slashes aviation fuel price Nepal Oil Corporation (NOC) — the state-owned petroleum firm — has slashed the price of aviation turbine fuel (ATF) by nearly 34 per cent for domest...
Domestic airlines slashes airfares by 18.3 % Within hours of the Nepal Oil Corporation (NOC) reducing the Aviation Turbine Fuel (ATF) price, domestic airlines have slashed airfare by as much as...
Airlines hike fuel surcharge Domestic airlines are raising fuel surcharge from Monday onwards in response to the hike in the aviation turbine fuel (ATF) price. Surface transport...
Panel to submit report on petro pipeline next week A technical team entrusted with the task of holding study on the appropriate modality for the Nepal-India cross-border petroleum pipeline is schedul...
New Adidas showroom in Jawalakhel and Pokhara Here is good news for people, who go after internationally acclaimed brands. Roots Fashion -- the dealer of Adidas brand of sports wear in Nepal -- ...
Apple opens showroom in Capital Apple has opened its first showroom in Kathmandu by appointing SG Global as the authorised distributor for Nepal. The company will provide a wide ra...
Domestic airlines hike fuel surcharge Domestic air travel is going to be costlier again, with private airlines hiking fuel surcharge by Rs 80-270. The new revision, which comes less than...
Brother launches new laser printers in Nepali market Brother Printing & Solutions has introduced the latest printer, the New Laser Series, in Nepal through the authorised distributor, Sagar Printin...
Nepal Telecom launches schemes to mark 10th anniversary Nepal Telecom (NT) has launched a number of schemes on voice and data services on the occasion of its 10th anniversary. The plans include free 50 MB...
All-in-one PCs gaining ground amid tablet craze With desktop computers losing ground against laptops and tablets, personal computer makers have come up with a new version of PC, incorporating the ...
Increase in milk prices sets off chain reaction Milk-based products are set to become at least 12 percent dearer due to a chain reaction caused by a hike in milk prices, said traders. On Wednesda...
Hisense store opens at Sherpa Mall Navin Distributors, the sole authorized distributor of Hisense products in Nepal, has opened an exclusive showroom at Sherpa Mall, Durbar Marg. The ...
Seiko watches opens second store in capital Pinki International, authorised distributor of Seiko watches in Nepal, opened its second showroom in Durbar Marg, Kathmandu, on Friday. Spread over ...
Turkish fashion brand Sarar enters Nepali market Turkish fashion brand Sarar has entered the Nepali market by opening its flagship store on Durbar Marg. Richarm, the sole authorised dealer of Sarar...
You might also like