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Petro Price Hike To Have Cascade Effect On Inflation
1 min 7 sec to read
--By TC Correspondent
The Nepal Oil Corporation (NOC) on Saturday hiked the prices of petrol, diesel, kerosene and aviation fuel. However, no change has been made on the price of liquefied petroleum gas (LPG).
With the hike, the prices of kerosene and diesel increased by Rs one per litre, whereas the price of petrol rose by Rs two per litre. Similarly, the price of aviation fuel (domestic) has increased by Rs 10 per litre.
The price of petrol increased to Rs 125 per litre from Rs 123 per litre previously. Likewise, the prices of diesel and kerosene reached Rs 100 per litre from Rs. 99 per litre previously. The price of aviation fuel had a bigger hike to Rs 130 from Rs 120 per litre previously.
The price hike will once again push transportation costs up, which will subsequently have a cascade effect on food prices and other daily commodities, according to economic experts.
An increase in the price of diesel — the main transportation fuel — will not only push up the cost of food items, including fruits and vegetables and other perishable items that are moved largely by trucks, but also will increase industrial operating costs.
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<strong>--By TC Correspondent </strong></div>
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The Nepal Oil Corporation (NOC) on Saturday hiked the prices of petrol, diesel, kerosene and aviation fuel. However, no change has been made on the price of liquefied petroleum gas (LPG).</div>
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With the hike, the prices of kerosene and diesel increased by Rs one per litre, whereas the price of petrol rose by Rs two per litre. Similarly, the price of aviation fuel (domestic) has increased by Rs 10 per litre.</div>
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The price of petrol increased to Rs 125 per litre from Rs 123 per litre previously. Likewise, the prices of diesel and kerosene reached Rs 100 per litre from Rs. 99 per litre previously. The price of aviation fuel had a bigger hike to Rs 130 from Rs 120 per litre previously.</div>
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The price hike will once again push transportation costs up, which will subsequently have a cascade effect on food prices and other daily commodities, according to economic experts. </div>
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