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Upward Revision Of Prices Of Petroleum Products In Nepal
By KTM Metro Reporter
September 11, 2013: Nepal Oil Corporation (NOC) has increased the prices of diesel and kerosene by Rs 3 each, and of petrol by Rs 5, and of the aviation fuel for the internal use by Rs 7 thus making the price of diesel and kerosene Rs 103 per liter, the price of petrol Rs 130 per liter, and of the aviation fuel Rs 137 per liter effective on the midnight of Tuesday, September 10, 2013, according to the news in ‘gorkhapatra’ of today.
Currently, NOC has the monthly loss of Rs 1.62 billion, according to the news in ‘gorkhapatra.’ NC says that the upward revision of the prices of the petroleum products is needed to meet the loss caused by the high exchange rate of dollar and the high fuel price in the international market. However, it is only half-truth. Half of the loss reported by the NOC is mainly due to the corrupt practices of the NOC staffs.
The price rise of petroleum products will immediately push the prices of transport upward, which in turn push the prices of the basic need commodities. Thus, common folks take all the burden of the price rise caused by the corrupt practices of NOC staffs and due to the high price of dollars and of the petroleum products in the international market.
