Fuel price update for Nepali drivers
Nepal Oil Corporation has raised retail fuel prices after a steep jump in the latest purchase rate from Indian Oil Corporation. According to the corporation, the revision reflects recent international market movements, but the full increase has not been passed on to consumers.
Petrol has gone up by Rs 3 per litre and diesel/mitti oil has gone up by Rs 5 per litre. The new rates will apply from 1:00 AM on Shrawan 18, 2083.
New retail prices
In the first pricing category, the corporation has set the new retail price at Rs 197.15 per litre for petrol and Rs 197.15 per litre for diesel/mitti oil. The announcement notes that the hike would have been much steeper if the entire import-cost rise had been passed through to the market.
What this means for vehicle owners
The corporation says the latest adjustment still leaves it under financial pressure, with an estimated Rs 1.49 billion loss every fortnight. It has also urged consumers and stakeholders to use fuel carefully because of continued volatility in the international oil market.
For Nepali vehicle buyers and owners, the change pushes daily running costs up again, especially for commuters, commercial operators and long-distance travellers who rely on petrol or diesel vehicles. High-mileage users will feel the increase most, even though the price hike is still lower than the rise in import cost.
Writes on vehicle pricing, taxation and the Nepali auto market from ongoing tracking of distributor price lists. Editorial policy.
