Nepal Oil Corporation Hikes Fuel Prices Again Amid Global Market Volatility

Kathmandu. Nepal Oil Corporation (NOC) has once again increased the price of petroleum products. In a press release issued on Wednesday, the corporation announced a uniform hike of 15 rupees for petrol, diesel, and kerosene. The increased prices have come into effect starting today.

Due to the ongoing war in West Asia for the past month, petroleum prices have been continuously rising in the international market. The corporation stated that due to this war, it is projected to incur a loss of Rs 5 billion over the next 15 days (from March 16 to March 31). Based on the projection of recent price increases, an additional loss of Rs 15 billion is anticipated in the coming 15 days.