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NAC Raises LPG Price

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NAC Raises LPG Price
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January 2: Nepal Oil Corporation has raised the price of LP gas by Rs 25 per cylinder. A meeting of NAC board of directors took the decision of raising LPG price on February 1.

Now onwards, a customer will have to pay Rs 1,350 per cylinder for LPG. Previously, a cylinder of LPG was priced at Rs 1,325. NAC raised the price of LPG after its sole supplier Indian Oil Corporation (IOC) supplied LPG in a new increased price for February. Earlier also, NAC had Rs 75.24 loss on per cylinder of LPG. However, the price of other petroleum products remains same. NAC was incurring losses due to the raise in petroleum products' price in international market. The company anticipated Rs 146.2 million losses during the last month. NAC slipped to losses due to losses on diesel and LPG. The price of raw oil in the international market has reached USD 55 per barrel. 

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