Nepal Raises Fuel Prices by Rs. 15 Amid Global Oil Surge
Nepal Oil Corporation has increased fuel prices by Rs. 15 per litre, citing rising global oil prices driven by geopolitical tensions.
Nepal Oil Corporation (NOC) has increased the price of petroleum products by Rs. 15 per litre across petrol, diesel, and kerosene, with the revised rates coming into effect from today.
The adjustment comes as global oil prices continue to rise amid ongoing geopolitical tensions in West Asia. According to the corporation, sustained increases in international fuel prices have significantly impacted its cost structure, forcing periodic domestic price revisions.
NOC estimates that it will incur a loss of approximately Rs. 5 billion over the 15-day period from March 16 to March 31. Based on current global price trends, the corporation projects an additional loss of around Rs. 15 billion in the subsequent 15 days if prices remain elevated.
Under the revised pricing structure, petrol prices have been categorized geographically. In the first category—covering Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalwari, Nepalgunj, Dhangadhi, and Birgunj—the price has been set at Rs. 184.50 per litre.
In the second category, including Surkhet and Dang, petrol will cost Rs. 186 per litre. Meanwhile, in the third category, which includes major urban centers such as Kathmandu, Pokhara, and Dipayal, the price has been fixed at Rs. 187 per litre.
The corporation has urged consumers to use petroleum products prudently, citing the ongoing volatility in international markets. It also stated that prices will be adjusted downward immediately if global fuel prices decline.
The latest revision underscores the vulnerability of Nepal’s fuel pricing mechanism to external shocks, particularly in times of geopolitical instability, which directly impacts import-dependent economies.