Domestic consumption of petro products falls

Kathmandu / Nov 14: The domestic consumption of petroleum products has gone down lately. According to the Nepal Oil Corporation (NOC), the consumption of petroleum products has significantly decreased in the current fiscal year 2022/23 compared to the previous year.

Data with the NOC shows that there was the consumption of 44,513 kiloliters of petrol and 78426 kiloliters of diesel from mid-October to mid-November this year as opposed to 63,315 kiloliters of petrol and 135,812 kiloliters of diesel during the corresponding period last year.

In the past, the supply of petroleum products would increase during festivals and elections, but this time the situation is different, NOC Spokesperson Binitmani Upadhyay said. Liquidity crunch, unfavorable season for development works, the skyrocketing prices of petroleum products and its higher prices in the domestic market than in the Indian market are among the factors for the downfall in consumption, it has been said.

Higher prices of petroleum products in the domestic market may encourage people to fill up their vehicles in Indian cities, taking advantage of the open border between Nepal and India, it has been observed.