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Nepal increases gasoline price by 10 percent

Nepal increases gasoline price by 10 percent

Nepal's government raised the price of gasoline by 10 percent on Thursday just two months after it increased kerosene, cooking oil and diesel fuel prices.
The price for gasoline has been raised to 80 rupees (US$1.25, euro0.90) per liter from 73 rupees (US$1.20; euro0.80), the state-run Nepal Oil Corp. said in a statement.
Fuel shortage in this Himalayan nation has lasted for months with vehicles forced to line up for hours for rationed amount of fuel.
Nepal Oil Corp., which has a monopoly on the import and distribution of oil in landlocked Nepal, has been facing massive loses. Most oil products are subsidized, and the government bears the loss.


Updated : 2021-05-19 08:52 GMT+08:00