Petrol to cost Rs 199 per litre and diesel Rs 180 per litre

Kathmandu October 16- With private firms quoting high price for petroleum supply, Nepal Oil Corporation (NOC) is in a fix over whether to move ahead with the process of importing fuel through them. According to NOC, the lowest price quoted is double the rate consumers are paying currently. NOC officials said the minimum price quoted for petrol is Rs199 per litre and for diesel Rs180 per litre. The fuels currently retail at Rs104 per litre and Rs81 per litre, respectively.

 

After Indian Oil Corporation (IOC) cut supply drastically adhering to India’s undeclared trade embargo on Nepal, NOC had invited expression of interest (EoI) last week, seeking bidders to procure oil from any country through any medium on a daily basis for at least 15 days. The measure was taken to ease fuel crisis ahead of the country’s biggest festivals—Dashain and Tihar. NOC Managing Director Gopal Bahadur Khadka said they were holding talks with government agencies concerned on the matter. “As the price is too high, the government should decide whether to procure petroleum with these firms and who should pay the price,” he said, speaking at a meeting of the Parliamentary Committee on Commerce, Industries and Consumer Welfare Relation.  NOC said 22 domestic and foreign firms, including IOC, expressed interest to supply oil. Source: tkp