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Import of petroleum products soars

By Our Reporter
Fuel import to Nepal increased by 37.3 per cent during the first eight months of the current fiscal year compared to the corresponding period last year.
According to NOC sources, the country imported petroleum products worth Rs. 101.01 billion during the first eight months.
Petroleum products worth Rs. 73.55 billion were imported during the first eight months of the last fiscal year.
Fuel worth Rs. 122.58 billion was imported in the fiscal year 2016/17.
Rise in the consumption of fuel and import of vehicles is blamed for the increase in the import of POL products.
The ongoing reconstruction works in the country also attributed to increase fuel consumption.
The price difference has also forced the NOC to import more fuel than normal.
Due to the open border between Nepal and India, the Indian vehicles without having any specific work purpose even entered Nepal’s side just for refueling as petroleum products are cheaper in Nepal.
Currently, petrol and diesel products in Nepal are cheaper by Rs. 23 per litre and Rs. 26 per litre respectively than in India.

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