Nepal Oil Corporation hikes fuel prices, yet financial losses persist

Kathmandu. The Nepal Oil Corporation (NOC) has significantly increased the prices of diesel, kerosene, and aviation fuel. Despite this sharp hike that burdens consumers, the corporation's losses are expected to continue. Following the price adjustment effective from Thursday, the NOC is projected to face a loss of approximately 5.75 billion rupees over the next 15 days.The NOC issued a statement on Wednesday announcing the new prices, effective from midnight on Baisakh 3, Thursday. Under the new price list, the cost of diesel and kerosene has been increased by 30 rupees per liter, while petrol prices remain unchanged. Additionally, the price...