Nepal

The consumption of petroleum products in Nepal has dipped sharply in the past month compared to the correspondent period last year, the Nepal Oil Corporation (NOC) has said.  

According to the NOC data, petrol consumption dropped nearly 30 per cent to 44,513 kilolitres and diesel by more than 42 per cent to 78,426 kilolitres between mid-October and mid-November compared to the previous year. The country used 63,315 kilolitres of petrol and 135,812 kilolitres of diesel during the correspondent period last year.  

Unlike in the past, the supplies of petroleum products decreased during festivals and elections, NOC spokesperson Binitmani Upadhyay said. 

The NOC has pointed to liquidity crunch, an unfavorable season for development works, and higher prices in the domestic market than in the Indian market as the main factors for the decrease in the consumption of petro products. 

The state-owned monopoly said that the higher price of petroleum products in the domestic market might have encouraged people to fill up their vehicles in Indian cities, taking advantage of the open border between Nepal and India.

With RSS inputs