Kathmandu, November 7

The Nepal Oil Corporation (NOC) has not adjusted fuel price since last three months.

Though the automatic fuel pricing mechanism that the government adopted for petrol, diesel, kerosene and Aviation Turbine Fuel (ATF) requires NOC to adjust new rates every fortnight, NOC has not been fixing the rates accordingly.

NOC had last adjusted prices of petroleum products on August 2. The corporation had reduced the price of petrol, diesel and kerosene by two rupees per litre each and Rs 25 per cylinder in LPG. Currently, petrol is available at Rs 97 per litre and diesel and kerosene at Rs 73 per litre each. Similarly, LPG is available at Rs 1,375.

NOC officials said that the fuel rates given by Indian Oil Corporation (IOC) have gone up in recent months. “Though the price list provided by IOC shows fuel prices have gone up in the past few months, we didn’t hike up their prices in the domestic market to facilitate Nepali people during Dashain, Tihar and Chhath,” Bhanubhakta Khanal, NOC spokesperson, said.

According to Khanal, NOC may increase fuel price in the near future if there is significant change in the price list that IOC sends on November 15.

IOC — the sole supplier of petroleum products to Nepal — sends new fuel rate on the first and 15th day of a calendar month. Under the mechanism, NOC is required to adjust the price of petroleum products accordingly.