Views Collection

In the last couple of months the world witnessed the price of petroleum products rocketing real high. The price per barrel of crude oil had reached to 145 dollars in recent times. With the credit crisis seen in the US it has somehow brought negative impact on petroleum products and gold. The price of petroleum products has gone down to 70.00 dollars per barrel. The OPEC has been working out on this as they have lowered the production of petroleum products.

This however has affected a very little in the local market. When the price of petrol in the international market was marked at around 145 dollars, the local price per liter of petrol used to cost 100.00 rupees. Now that the international price of petrol has gone down, the Nepal Oil Corporation has revised its price of petrol at a new standard of Rs.95.00 per liter.

Along with the price of petrol, the price of diesel has been reduced to Rs.70.00 per liter which used to cost Rs.80.00 per liter. The price of Liquid Petroleum Gas is still to be restructured.

The price determined by the Nepal Oil Corporation differs with the price that the final consumers have to pay. The gas station and pumps have fixed their own prices which is Rs.0.50 higher than the actual price that Nepal Oil Corporation has fixed.

The difference in the price of petrol in the international marked as for now and at the time when it was at its heights is 75.00 dollars and the respective difference in the local market is just Rs.5.00 per liter. The worth of one dollar in the local market is approximately Rs.80.00 and when comparing the revised price of petrol, the difference is of just 0.0625 dollars.

Nepal Oil Corporation has always been in debt and thanks to the lowered price of petroleum products in the international market, which has helped Nepal Oil Corporation to make some profit this time around.