Despite the decline in the price of crude oil in the international market, it has increased in Nepal

Despite the decline in the price of crude oil in the international market, it has increased in Nepal. Nepal Oil Corporation has increased the prices of diesel, petrol, kerosene and domestic aviation fuel by two rupees per liter.

Similarly, the price of international aviation fuel has been increased by 16 per kiloliter and the price of cooking LP gas by Rs 25 per cylinder.

According to the new rate, petrol has now reached Rs 130 per liter in Kathmandu Valley. Similarly, diesel and kerosene have reached Rs 113 per liter. The price of diesel and kerosene has been increased by Rs 2 per liter to Rs 113 per liter. Similarly, the price of petrol has been fixed at Rs 130.

The last time the Oil Corporation raised the price was on July 30, when the price of crude oil in the international market was 74.52 per barrel. One month later, on August 23, the price of crude oil fell by  6.12 to. 68.40 a barrel.

With the fall in international crude oil prices, oil has also become cheaper in neighboring India. However, in the Nepali market, the Oil Corporation has hurt the consumers by increasing the prices instead of giving concessions according to the declining prices in the international market.

According to the latest price list received from the Indian Oil Corporation, the price has been increased after seeing a loss of Rs 1.15 billion in the last 15 days, said Binit Mani Upadhyaya, spokesperson of the corporation.