KATHMANDU, June 4: Minister for Industry, Commerce and Supply Matrika Yadav has said the government increased the prices of petroleum products not by will, but it was a compulsion.

Taking time in a special hour of the House of Representatives (HoR) meeting Monday, the Minister said the recent rise in fuel prices was as per the agreement reached between the Indian Oil Corporation and Nepal Oil Corporation.

As stated by the minister, the two sides on March 18, 2018 had agreed to apply an automated system in fuel prices to adjust to the international market.

KATHMANDU, Jan 6: Nepal Oil Corporation (NOC) has said it will not budge from its decision to increase fuel price as the decision was taken in line with standard of international market price.

Speaking at a face-to-face program organized by the Reporters’ Club Nepal in the capital on Friday, NOC spokesperson Deepak Baral said that the NOC incurs monthly loss of Rs 260 billion in the supply of petroleum products and its employees have been deprived of bonus since the 2056 BS.

“The recent increase in the petroleum products would not affect consumers much and the withdrawal of the decision is not the solution,” he added.

“The price hike will not be withdrawn,” he furthered.

Speaking on the occasion, Gas Dealers’ Federation Nepal chair Gyaneshwor Aryal was of the view of addressing demands of gas dealers.

Forum for Protection of Consumer Rights Nepal secretary Bishnu Prasad Timilsina advised the NOC to implement the provision for different fuel price list for public and business community.

NOC Board of Directors on January 1 had decided to hike the prices of petrol, diesel, kerosene, cooking gas (LPG) and avian turbine fuel.

KATHMANDU, Jan 2: A few were injured when the police and the Students Union aligned with the left alliance clashed in front of Tri-Chandra Multiple Campus in Jamal on Tuesday.

The Students were protesting against the government’s recent decision to hike the price of petroleum products. The students had also burnt the effigy of Prime Minister Sher Bahadur Deuba to protest the price hike.

Meanwhile, the police had intervened and lobbed two cells of tear gas to disperse the crowd.  A few were injured during the clash including student leader Mahesh Bartaula. Bartaula has been taken to hospital for treatment.

Nepal Oil Corporation on Monday increased the price of petroleum products: by one rupee per liter in petrol, diesel and kerosene; Rs 25 in per LPG cylinder and Rs 3 per liter in aviation fuel.

With the new adjustments, petrol will cost Rs 102 per liter, diesel and kerosene Rs 89 per liter and liquefied petroleum gas (LPG) Rs 1375 while turbine fuel will cost Rs 90 per liter for domestic airlines.

It has been the third time the NOC has increased the price of petroleum products since the completion of House of Representatives and Province Assembly elections. The Corporation had increased the price on December 8 and December 19.

Photos: Mukunda Kalikote