Nepal has seen another sharp rise in fuel prices, with petrol, diesel, and cooking gas becoming significantly more expensive amid ongoing supply challenges.
The Nepal Oil Corporation revised rates on Thursday, citing increased costs from India. Under the new pricing, petrol has gone up by Rs 17 per litre, while diesel and kerosene have increased by Rs 25 per litre. Petrol now costs between Rs 216.50 and Rs 219 per litre, depending on the region, while diesel and kerosene range from Rs 204.50 to Rs 207 per litre.
Cooking gas prices have also risen, with a 14.2 kg LPG cylinder now priced at Rs 2,010. Domestic aviation fuel has seen a smaller increase of Rs 6 per litre. The new rates came into effect from midnight on Thursday.
Despite the price hike, the corporation continues to face heavy financial losses, estimating a biweekly deficit of around Rs 7.81 billion. Officials have warned that sustained losses could impact fuel supply in the near future.
The rise in prices comes as global fuel markets remain unstable. Ongoing conflict in the Middle East has disrupted petroleum transportation routes, contributing to shortages across parts of Asia, including Nepal.
In response to the crisis, the government has introduced measures to reduce consumption, including implementing public holidays on weekends. Authorities have also previously offered partial tax exemptions on fuel imports in an effort to ease price pressures.
This latest increase marks another blow for consumers already dealing with rising living costs. With fuel prices adjusted multiple times in recent weeks, concerns are growing over the broader economic impact and the possibility of further hikes if global conditions do not improve.