Steep Hike in Fuel Prices in Nepal; Gratitude Expressed to Indian Oil ⛽
Massive Price Hikes in Nepal: Petrol Up by ₹31, Diesel by ₹54, and LPG Cylinders by ₹296. Citing the ongoing conflict involving Iran, the US, and Israel—along with the current geopolitical situation in the Gulf nations—Nepal has announced a substantial increase in the prices of petroleum products.
The decision to raise the prices of petroleum products was reached during a meeting of the Nepal Oil Corporation that continued late into Sunday night. According to a press release issued by the Corporation, this decision was necessitated by rising prices in the international market and the challenges currently being faced in supply management. The new rates came into effect at 12:00 AM tonight.
Under the new price adjustment, the cost of petrol has been hiked by ₹31 per liter, diesel by ₹54 per liter, and LPG gas by ₹296 per cylinder. Following this price revision, the new price for petrol has been fixed at ₹188 per liter, diesel at ₹196 per liter, and LPG gas at ₹2,126 per cylinder.
**Sharp Rise in Petroleum Prices**
The Corporation stated that escalating tensions in the Middle East and West Asia in recent times have led to a sharp surge in the prices of petroleum products within the international market, thereby placing increased pressure on the supply chain. The press release further noted that for a non-petroleum-producing nation like Nepal, such increases in international prices have a direct and immediate impact. Previously, global circumstances had similarly disrupted the supply system, causing the Corporation to face difficulties in making payments to the Indian Oil Corporation.
**Nepal Expresses Gratitude to Indian Oil Corporation**
The Corporation has expressed its gratitude to the Indian Oil Corporation for continuing to ensure a steady and uninterrupted supply of petroleum products to Nepal, even amidst the current challenging circumstances. The Nepal Oil Corporation affirmed that, in light of the prevailing conditions in the international market, this price adjustment for petroleum products was implemented specifically to ensure the continued smooth functioning of the supply system.
You Might Also Like
-
Doubts have arisen regarding the screenings of the film *Dhurandhar: The Revenge*, which is sched...
-
Cyber Crime police have arrested two individuals for posting obscene content about actress Renu...
Leave A Comment
Comments