By A Staff Reporter
Kathmandu, Feb. 21: Nepal Oil Corporation (NOC) has once again increased the price of petroleum products.
The NOC has revised the prices of petrol, diesel and kerosene citing that price of fuel has increased in the international market significantly.
The NOC has increased the price of petrol, diesel and kerosene by Rs. 3 per litre each effective from Saturday midnight. However, the NOC has not adjusted the price of liquefied petroleum gas (LPG) and aviation fuel.

The fuel price was adjusted based on the new price structure received from the Indian Oil Corporation (IOC) on February 16, said NOC. The NOC receives new price list from IOC twice a month.
As per the latest revised rate, petrol costs Rs. 145 per litre, diesel and kerosene each cost Rs. 128 per litre. This is the highest ever price of petrol, diesel and kerosene in Nepali market.

Earlier on February 1, the NOC had increased the price of petrol, diesel and kerosene by Rs. 3 per litre and the price of petrol had reached Rs. 142 per litre and diesel and kerosene Rs. 125 per litre.
Even after adjusting the fuel price, the NOC still faces a loss of Rs. 16.59 per litre in petrol and Rs. 12.98 per litre on diesel, NOC said.
However, NOC is making a profit of Rs. 25.06 per litre in kerosene, Rs. 9.03 per litre in aviation fuel (domestic) and Rs. 39.91 per litre (international).

The NOC is also bearing a loss of Rs. 2.15 billion in 15 days by the sale of all petroleum products, including the cooking gas, NOC said.
The Corporation is facing a loss of Rs. 560 per cylinder of cooking gas, NOC said.

The NOC has been incurring huge losses from the trade of petroleum products and it incurred losses of about of Rs. 24 billion in the seven months of the current fiscal year.
The Corporation has stated that there is a lack of funds to pay the IOC for the purchase of petroleum products and make the fuel supply ease.