NOC reports heavy losses In kerosene selling

Kathamndu, Mar 4 (RSS):Nepal Oil Corporation (NOC) is incurring increasing losses in kerosene transaction as a result of the growing demands for the fuel commodity at home and its increasing prices in the international market, according to the NOC.

The NOC sold 86,218,000 litres of kerosene in the three winter months this year which is an increase of seven per cent over the corresponding period last year, it is learnt.

While the NOC incurred a loss of Rs 3.37 per litre of kerosene based on the international price of kerosene for the month of October-November last year, the loss is expected to increase to Rs 5.24 per litre according to the international price level of the fuel for the month of February-March, according to an NOC press release.

The current international price of kerosene is nearly 258 US dollars per metric tonne. It was 142 US dollars in the same period last year.

Likewise, the price of diesel has also gone up in the international market from 112 us dollars per metric tonne last year to 256 US dollar per metric tonne this year, according to the NOC.

It is estimated the NOC was incurring a loss of Rs 1.82 per litre in diesel while selling the diesel purchased at the international price level at the present Rs 23 per litre in the domestic market, the NOC release said.