Business

NOC says fuel supply to ease in a couple of days

NOC says fuel supply to ease in a couple of days

By Rastriya Samachar Samiti

A petrol pump attendant (L) puts petrol priced at Rs 99 per litre into a car at a Sajha Petrol gas station in Kathmandu, Nepal, January 27, 2016. A dramatic drop in oil prices, driven down by a glut in supply, is translating into a mixed bag for motorists. All countries have access to the same oil prices on international markets, but retail prices vary wildly, largely because of taxes and subsidies. Reuters

KATHMANDU: Nepal Oil Corporation (NOC) has said the supply of petroleum products would be smooth in a day or two. According to Nagendra Jha, the NOC Director, the current shortage of fuel was due to the insufficient supply from the Indian Oil Corporation at Raxaul. In recent days, IOC has been supplying 200,000 litres a day to NOC against 500,000 litres he informed. Since last few days, motorists have been queuing up at petrol pumps to refill fuel. Only few stations distributed petroleum products on Sunday. According to Jha, the supply would ease in couple days as NOC is preparing to bring additional 300,000 litres from a depo at Barauni Check Point in India. NOC has been distributing 600,000 litres of fuel every day, Jha said. The daily demand of petroleum products in the Kathmandu Valley alone is around 400,000 litres.