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NOC hikes petrol costs by Rs 4: Price of Diesel and LPG unchanged

Nepal Oil Corporation (NOC) has decreased the cost of petrol in Nepal as per the Automatic Pricing Procedure 2023 on Sunday, March 31, 2024. The corporation has increased the price of petrol by Rs 4 while keeping the costs for diesel, kerosene, and cooking gas (LPG) the same all over Nepal. The new fuel pricing comes after receiving the latest fuel price list from the Indian Oil Corporation (IOC). Find out all the details on fuel prices in Nepal as per the latest NOC notice.

The new petrol cost is effective from Sunday morning, 00:01 AM of April 01, 2024.

Latest petrol cost in Nepal | Find Diesel and cooking gas (LPG) price in Nepal

As per the new price structure, the cost of petrol has increased by Rs 4 per liter in Nepal. So, petrol will cost Rs 175 for a liter in Kathmandu, Pokhara, and Dipayal increasing from Rs 171. In Terai which includes districts such as Biratnagar, Janakpur, Nepalgunj, Dhangadi, Birgunj, etc., petrol will cost Rs 172.5 per liter increasing from the previous Rs 168.5 per liter. Likewise, in Surkhet and Dang (inner Terai), petrol will now cost Rs 174 for 1 liter from its previous cost of Rs 170 per liter.

However, NOC has made no changes in the cost of diesel and kerosene. Having said that, diesel and kerosene will now cost Rs 158 per liter in Kathmandu, Pokhara, and Dipayal. Likewise, they cost Rs 155.5 in Terai and Rs 157 in inner Terai per liter.

NOC increased the price of petrol per liter by Rs 4 all over nepal

In the meantime, cooking gas prices have been kept the same as before. Also called LPG or LP Gas, a single cylinder of an LP gas costs Rs 1,895. Unlike petrol and diesel/kerosene, LP Gas price is implemented uniformly across Nepal. In its notice, NOC said that LP Gas price increased from IOC and it’s currently bearing a loss of Rs 300 per cylinder. But it maintains that the price has been kept as before considering the public’s interest.

RegionPetrol costDiesel/ kerosene costLP Gas (cooking gas) cost
Kathmandu, PokharaRs 171
Rs 175
Rs 160 Rs 158Rs 1,910
TeraiRs 168.50
Rs 172.50
Rs 157.50 Rs 155.50Rs 1,910
Inner TeraiRs 170
Rs 174
Rs 159 Rs 157Rs 1,910
Fuel cost in Nepal after automatic pricing including VAT

Check out NOC’s new fuel pricing notice:

petrol cost April 1, 2024 NOC notice

Likewise, NOC has maintained the same price for cooking gas (LPG) at Rs 1,910.

Automatic Fuel Pricing in Nepal

The government decided to implement an automatic fuel pricing mechanism in Nepal from September 01, 2023. The decision was made to strengthen the public’s trust in NOC and make its operations transparent. This also helps with issues stemming from rising fuel costs. Now, the government will have less say in determining the fuel costs as they will be revised as per NOC’s own price structures.

As per the cost mechanism, NOC will maintain a margin of 2% profit on diesel and 2.5% profit on petrol while fixing the price. However, the corporation has said that it won’t keep a profit on LP Gas which is commonly used for cooking in Nepal.

nepal oil corporation began automatic pricing on fuel from september 01, midnight

Initially, the automatic gas petrol price in Nepal was first implemented on September 29, 2014 however as cross-subsidy was in place, it became ineffective.

Also read: Nepal-India Petroleum Pipeline Project Enters Second Stage  

Letting the automatic pricing do the job

Fuel price gets a fair share of attention in Nepal especially when it gets higher. However, after the implementation of automatic pricing, NOC is letting the price be determined as per IOC’s own pricing structure while keeping its margin.

The corporation is also on a profiting trajectory in recent months which is giving it enough confidence to let fuel costs flow as per the automatic mechanism. This is another consecutive time NOC has decreased petrol and diesel costs in Nepal. This should bring delight to the commuters who depend on their fuel-drive vehicles. Have your say on the new fuel price in Nepal in our comment section below.

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