Minister hints reduction on petro prices

After the government received widespread condemnation for hike in prices of the petroleum products, Minister for Commerce, Industries and Supplies, Hridayesh Tripathi, has hinted at a marginal reduction in retail prices of major petroleum products.

Minister for Commerce, Industries and Supplies, Hridayesh Tripathi (File photo)

Talking to journalists at his residence on Saturday, Tripathi said the retail prices fixed by the Nepal Petroleum Dealers’ Association were high and didn’t comply with the provisions set by the Nepal Oil Corporation.

He however defended the government’s decision of hiking petro prices saying it was a must to avert a looming petroleum supply crisis, reports said.

“The retail price fixed by the private dealers is not acceptable to the government. They have hiked the prices based on provision set by the royal government, which is not valid,” he said.

The reduced retail prices for petrol, diesel and kerosene would be announced very soon after consultation with the dealers, he added.

Tripathi said there was no plan to hike the diesel price.

“However, the finance ministry later refused to cut the duty imposed on diesel, which compelled us to raise the price,” he said. nepalnews.com pb Aug 20 06

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