Nepal Hikes Aviation Fuel Prices by Up to 117.4%: Implications Loom
Nepal has dramatically increased aviation fuel prices by up to 117.4% for international flights to ensure timely payments to the Indian Oil Corporation and prevent supply disruptions. Domestic flight fuel prices saw a 97.6% rise. Broader fuel-related prices in Nepal have also been heightened recently as the country is heavily reliant on imports.
Nepal has announced a significant surge in aviation fuel prices for international flights, with hikes reaching as high as 117.4%. The change, effective from midnight on Tuesday, stems from the need to meet financial obligations to the Indian Oil Corporation and avert potential disruptions in fuel supply.
The state-run Nepal Oil Corporation (NOC) specified the respective price increases at key airports: Kathmandu by 84.7%, Pokhara by 116.2%, and Bhairahawa at 117.4%. Meanwhile, domestic flights are facing a 97.6% rise in fuel costs.
This development follows earlier hikes in petrol and diesel prices by 9.55% and 7.0%, respectively, and an initiation of cooking gas rationing. Landlocked between two giants, India and China, Nepal relies entirely on imports for its fuel needs.
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