KATHMANDU, MAY 17 -
Nepal Oil Corporation (NOC) has lowered its projected monthly loss from Rs 1.98 billion to Rs 1.82 billion. The revision was prompted by increased revenue following a hike in the price of aviation fuel and a fall in global oil prices.
According to NOC, the price of crude in the international market has dropped from US$ 134.86 per barrel to US$ 128.49 as per the revised prices of Indian Oil Corporation (IOC) issued on Monday. NOC’s sole supplier IOC revises petrol and diesel
prices fortnightly while the prices of kerosene, aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) are reviewed monthly.
Earlier, the state-owned oil monopoly’s estimated monthly loss stood at Rs 2.07 billion which dropped to Rs 1.98 after it jacked up the price of ATF from Rs 90 to Rs 100 per litre on May 8.
As per IOC’s new tariff published on May 16, NOC’s loss on diesel has come down from Rs 23.42 per litre to Rs 20.72. The retail price of diesel is Rs 68.50 per litre. However, the loss on petrol has increased from Rs 8.1 per litre to Rs 9.36. Petrol retails at Rs 97 per litre.
NOC’s losses on kerosene and LPG remain unchanged at Rs 13.61 per litre and Rs 322.06 per cylinder respectively. They could change after June 1 when IOC is due to issue its new price list. NOC’s only profit comes from ATF sales.
The state-owned company said that petrol was cheaper by Rs 12.60 per litre in Nepal compared to Raxaul across the border in India following its recent price hike. However, diesel costs Rs 3 more per litre in Nepal.
Nepal Oil Corporation (NOC) has lowered its projected monthly loss from Rs 1.98 billion to Rs 1.82 billion. The revision was prompted by increased revenue following a hike in the price of aviation fuel and a fall in global oil prices.
prices fortnightly while the prices of kerosene, aviation turbine fuel (ATF) and liquefied petroleum gas (LPG) are reviewed monthly.
Earlier, the state-owned oil monopoly’s estimated monthly loss stood at Rs 2.07 billion which dropped to Rs 1.98 after it jacked up the price of ATF from Rs 90 to Rs 100 per litre on May 8.
As per IOC’s new tariff published on May 16, NOC’s loss on diesel has come down from Rs 23.42 per litre to Rs 20.72. The retail price of diesel is Rs 68.50 per litre. However, the loss on petrol has increased from Rs 8.1 per litre to Rs 9.36. Petrol retails at Rs 97 per litre.
NOC’s losses on kerosene and LPG remain unchanged at Rs 13.61 per litre and Rs 322.06 per cylinder respectively. They could change after June 1 when IOC is due to issue its new price list. NOC’s only profit comes from ATF sales.
The state-owned company said that petrol was cheaper by Rs 12.60 per litre in Nepal compared to Raxaul across the border in India following its recent price hike. However, diesel costs Rs 3 more per litre in Nepal.
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