NOC hikes LPG price to Rs 1,375
Kathmandu, March 10
Nepal Oil Corporation has hiked the price of liquefied petroleum gas by Rs 25 per cylinder, effective from tomorrow.
With the new adjustment, cooking gas will cost Rs 1,375 in the domestic market. NOC had increased LPG price by Rs 25 per cylinder on February 2 also.
NOC officials have said the revision in LPG price was in line with the latest price list sent by Indian Oil Corporation for the month of March.
"In the new price list, IOC has increased LPG price by Rs 122 per cylinder. With this adjustment in price, NOC has to bear a loss of Rs 333 on the sale of each LPG cylinder," Deepak Baral, director of NOC, informed THT.
According to him, NOC was left with no option but to hike the price of LPG. However, NOC has not increased the price of other petroleum products.
NOC has been incurring a significant loss on LPG in recent months.
However, the corporation is maintaining its loss on LPG through the profit that it is making on other petroleum products--Rs 1.23 per litre on petrol, Rs 13.05 per litre on kerosene and Rs 13.01 per litre on aviation turbine fuel. However, NOC is incurring a loss of Rs 4.07 per litre on diesel.