Nepal Oil Corporation (NOC) has revised the prices of petroleum products, bringing some relief to consumers. Effective from Sunday, the government has announced a reduction in the price of petrol by Rs. 4 per liter and a decrease in the prices of diesel and kerosene by Rs. 2 per liter. Notably, the price of LP gas remains unchanged despite these adjustments.
Under the new pricing structure, petrol is now available at Rs. 167 per liter, while diesel and kerosene are priced at Rs. 150 per liter in Kathmandu. The cost of LP gas stands firm at Rs. 1,900 per cylinder. These changes aim to provide some economic relief to consumers facing high transportation and cooking fuel costs.
However, this welcome reduction in prices coincides with reports of a petroleum shortage in the market. Consumers and businesses alike have expressed concerns about the availability of these crucial products, fearing that the price cuts might not translate into immediate benefits due to supply constraints.
In the context of historical pricing, it’s worth noting that on June 20, 2022, the prices of petrol, diesel, and kerosene had soared to an all-time high of Rs. 200 per liter, Rs. 195 per liter, and Rs. 195 per liter, respectively. The current reductions, therefore, represent a significant shift from those peak prices, although the ongoing shortage issues continue to pose challenges.
Overall, while the reduction in fuel prices is a positive development, the accompanying supply issues highlight the need for a more comprehensive strategy to ensure stable and sufficient petroleum product availability in the market.
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