Price of fuel hiked
The board of directors of the state-owned Nepal Oil Corporation (NOC) has
decided to hike the price of petroleum products.
Following the directive of the political committee of the cabinet to adjust
market prices, Monday, the NOC board decided to hike the price of petrol,
diesel, kerosene and cooking gas.
As per the decision, the price of petrol has been increased to Rs 100 per
liter from Rs 80. Likewise, the price of diesel and kerosene have been
increased to Rs 70 and Rs 65 per liter, respectively. The price of cooking
gas per cylinder has been increased from Rs 1100 to Rs 1200 (for Kathmandu
valley) and Rs 1180 (for outside Kathmandu).
"The new price will help improve supplies but it will definitely take some
time," said NOC spokesperson Mukunda Dhungel.
Dhungel, however, added that even with the new price rise, the monthly
losses of NOC stands at Rs 1.5 billion. Earlier its monthly losses stood at
Rs 2.62 billion.
Owing to severe rise of fuel price in the international market, the NOC had
been suffering huge losses and had reduced supplies by 40 percent.
nepalnews.com sd Jun 09 08
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