कच्चा तेल घटे पनि उपभोक्ताले पाएनन् राहतCrude Oil Prices Fall, but Nepali Consumers Yet to Feel Relief

Kathmandu — Crude oil prices in the international market have declined sharply in recent months, but Nepali consumers have not yet received a direct benefit from the fall.

According to various international market indicators, crude oil prices have dropped significantly from their recent high. However, fuel prices in Nepal have not been adjusted in the same proportion, raising concerns among consumers and stakeholders.

Nepal Oil Corporation has acknowledged that crude oil prices have declined in the global market. However, the corporation says an immediate and proportional reduction in domestic retail prices is not always possible.

According to the corporation, Nepal does not import crude oil directly. Instead, it imports refined petroleum products. Because of this, a fall in crude oil prices in the international market does not immediately translate into lower fuel prices in Nepal.

Consumer rights activists, however, argue that a continued decline in crude oil prices should eventually reduce the cost of refined petroleum products as well. They say consumers should receive the benefit when import costs go down.

Stakeholders have also questioned the transparency of the fuel pricing system. They claim that domestic prices are often adjusted quickly when international prices rise, but the process becomes slower when prices fall.

Nepal has an automatic pricing system under which petroleum prices are reviewed periodically. However, consumers and analysts have started questioning how effectively the system is being implemented in practice.

They have demanded that the pricing mechanism be made more transparent, accountable and fully automatic. They also say the cost structure of petroleum products should be made public so that consumers can understand how prices are determined.

Fuel prices directly affect transportation costs, production expenses and the prices of daily consumer goods. Therefore, a fall in petroleum prices could provide wider relief to the economy if passed on to consumers.

At a time when global oil prices are showing signs of easing, the lack of visible relief in Nepal has renewed debate over the country’s petroleum pricing policy.

Consumer groups say both the burden of rising prices and the benefit of falling prices should be passed on to the public in a fair and timely manner.