Domestic consumption of petroleum products reduced
Kathmandu, November 14. There has been a decrease in domestic consumption of petroleum products. The consumption of petroleum products has significantly decreased in the current fiscal year, 2022–2023, compared to the prior year, as per Nepal Oil Corporation (NOC).
The data from NOC reveals that during mid-October to mid-November this year, 44,513 kiloliters of petrol and 78426 kiloliters of diesel were consumed, compared to 63,315 kiloliters of gasoline and 135,812 kiloliters of diesel during the same period last year.
Further, according to NOC Spokesperson Binitmani Upadhyay, the usage of petroleum products used to rise during celebrations and elections.
Possible reasons for the decline are claimed to be the lack of liquidity, unfavorable season for development projects, increased prices of petroleum products and their higher prices on the domestic market than on the Indian market.
Moreover, given the open border between India and Nepal, higher petroleum prices on the domestic market may have stirred people to fill up their cars in Indian cities.
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