By Karuna Thapa
Kathmandu, March 1
The Nepal Oil Corporation has indicated that the increase in fuel prices caused by the Russia-Ukraine conflict.
Due to increased crude oil costs, the Indian Oil Corporation (IOC) raised its gas, petrol, diesel, and kerosene rates on Tuesday, according to Executive Director Sushil Bhattarai.
According to him, the cost of diesel, petrol, and kerosene has increased by Rs 4 per liter, while the cost of cooking gas has increased by Rs 100 per cylinder.
”The price increase cost the company Rs 3.09 billion in 15 days. We were compelled to hike the price ”According to Bhattarai.
He further alleged that the cooking gas shortage has grown from Rs 565 to Rs 665 per cylinder.
The corporation claims that the amount of IEC cannot be paid from the ordinary sale of the corporation after the new price was obtained on Tuesday.
”The corporation has to pay two installments to IOC in March,” said Binit Mani Upadhyaya, a corporation spokesperson. If the price does not rise or the government does not pay the money, we are required to pay the installment.
