Amidst rising crude oil prices, while there has been no increase in the prices of petrol and diesel in India for the 38th consecutive day, the prices of petrol and diesel are increasing in Nepal. Let us inform that on May 14, Nepal Oil Corporation (NOC) informed that the price of diesel and petrol has increased by NRS 10 per liter.
NOC informed that the new prices are effective from midnight. The new price of petrol in Nepal will now be 170 NRS per liter and diesel will cost 154 NRS per liter. Let us tell you that even though the prices of petrol and diesel have increased in Nepal, oil prices are still lower there than in India.
Actually Indian Rupee is stronger than Nepalese Rupee. Nepal has 1.60 Nepalese rupee against one Indian rupee. In such a situation, if the price of petrol in Nepal is 170 Nepalese rupees, then according to Indian currency, it is Rs 106.55. At the same time, the price of diesel in Nepal is 154 Nepalese rupees, then according to India it is 96.52. In such a situation, even though the price of oil in Nepal has increased by 10 Nepalese rupees, but according to the currency, the price of oil is less as compared to India.
If you look at the oil prices in India, there has been no increase in oil prices since 38 days. The last time oil prices increased by 80 paise was on 6 April. The price of petrol in the country’s capital Delhi is Rs 105.41 per liter and in Mumbai it is Rs 120.51 per liter. The price of diesel in Delhi is Rs 96.67 per liter, while in Mumbai it is selling at Rs 104.77.
In Kolkata, a liter of petrol costs Rs 115.12 and diesel is Rs 99.83 a litre. At the same time, the price of petrol in Chennai is Rs 110.85 per liter and diesel is being sold at Rs 100.94 per liter. Oil price stability in India may be hit again. In fact, crude oil has again reached close to $110 per barrel. Since then, it is believed that it will have an effect on the prices of petrol and diesel in the country as well.