Kathmandu – The Nepal Oil Corporation has announced an increase in the price of petroleum products. This decision comes amidst fluctuating global oil prices and aims to balance the domestic market. The hike in prices is expected to impact consumers, transportation businesses, and various industries reliant on fuel.
The Nepal Oil Corporation’s move to raise petroleum prices reflects the ongoing challenges in the global oil market, where prices have been volatile due to various geopolitical and economic factors. This decision is part of the corporation’s efforts to maintain stability in the domestic fuel market and ensure a sustainable supply chain for the country.
Ramesh Khatri, a representative of Kansai Nepal News, stated that the increase in petroleum prices by the Nepal Oil Corporation is a necessary step to address the current market dynamics. He emphasized the importance of aligning local prices with international trends to avoid disruptions in the supply chain and maintain a balance in the energy sector. Khatri further noted that while the price hike may pose short-term challenges, it is a crucial measure to ensure the long-term sustainability of the fuel industry in Nepal.
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Author: MAYA | HARUTO
Posted at: February 1, 2025 12:00 am