अन्तर्राष्ट्रिय बजारमा तेल सस्तो भए पनि नेपालमा राहत छैनOil Prices Fall Globally, But Nepal Yet to Pass on Relief to Consumers

Despite a significant drop in crude oil prices on the international market, retail prices of petroleum products in Nepal remain unchanged. The government and Nepal Oil Corporation, known for swiftly raising prices when costs go up, are now citing technical procedures to delay passing on the benefit to consumers.

Brent crude, which had surged past 110 dollars per barrel at the height of the Middle East conflict, has now fallen back to around 72 to 73 dollars. WTI crude has similarly dropped to the 69 to 70 dollar range. Overall, prices have fallen by more than 20 percent compared to just last month.

However, Nepali consumers are yet to see any reduction at the pump. The Nepal Oil Corporation maintains that petrol and diesel prices are adjusted only on the 1st and 16th of each month. Yet this schedule has not been consistently followed in the past. Notably, during Chaitra of 2082, prices were hiked five times within a single month citing rising international costs.

Finance Minister Swarneem Wagle has assured that fuel prices will come down soon. Speaking in the House of Representatives, he explained that since Nepal imports fuel through the Indian Oil Corporation, some time is needed before international price changes are reflected domestically.

Consumers, however, are frustrated with what they see as a double standard. They argue that while price hikes are implemented immediately, reductions are delayed under the cover of process and procedure. Their demand is simple — the benefit of falling global oil prices must reach ordinary Nepalis without further delay.