January 2: The Indian Oil Corporation (IOC) on Sunday sent a new list of fuel prices to the Nepal Oil Corporation (NOC). As per the fortnightly price list, the prices of all petroleum products except kerosene have increased.

Although the IOC has increased the fuel prices, NOC has made it clear that it will not increase the prices of petroleum products for the time being. Issuing a public notice on Sunday, NOC said it will not hike the fuel prices immediately.

According to the state-owned oil monopoly of Nepal, the IOC has increased the price of petrol by Rs 2.54 per litre, diesel by Rs 0.95 per litre, aviation turbine fuel (ATF) by Rs 4.13 per litre and liquefied petroleum gas (LPG) by Rs 78.22 per cylinder. However, the NOC did not mention the new price of kerosene.

The NOC said that it has to bear a loss of Rs 359.5 per cylinder with the new adjustment in prices. The NOC estimates that it will have to bear losses worth Rs 464.4 million in the next 15 days.

Meanwhile, the NOC will make profit of Rs 990 million through the sales of petrol, diesel, kerosene and ATF in the next 15 days.

The NOC is yet to pay dues worth Rs 18 billion to the IOC.