Nepal remains shackled to global oil markets. Energy independence remains achievable

The challenge now is to extend the EV revolution to every segment of society.

The conflict in West Asia might appear remote from Nepal, but its economic repercussions are now felt in every Nepali household. Fuel prices have skyrocketed to levels that threaten the very survival of the middle class and the urban poor. Petrol now stands at Rs217 per litre while diesel has reached an unprecedented Rs225. This price hike threatens to sabotage the economic stability of the average citizen who depends on two-wheelers and public transport to earn a living. It signals a shift in the economic reality of the nation.