Nepal in Crisis: Petrol-Diesel Prices Soar by 15 Rupees, Second Hike in March

• Nepal Oil Corporation (NOC) increased petrol, diesel, and kerosene prices by 15 rupees, effective March 25, marking the second hike this month.
• The price surge is attributed to continuously rising international oil prices due to the ongoing Middle East conflict.
• NOC estimates a loss of 5 billion rupees between March 16-31 and projects an additional 15 billion rupee loss if prices continue to rise.
• India fulfills 100% of Nepal's oil needs through Indian Oil Corporation (IOC), supplying approximately 71,673 kiloliters annually.
• NOC stated prices will be reduced immediately once international market prices decrease, urging judicious use of petroleum products.