KATHMANDU: The price of crude has jumped in the international market after Iran fired more than a dozen ballistic missiles at the two Iraq-based US Base camps.
The Nepal Oil Corporation (NOC), however, has said that the Nepali market will not witness a ‘big immediate impact’.
The state-owned oil monopoly purchases fuel from India. Many had assumed that the situation in the Middle East will have an impact on the Nepali market as India imports over 80 percent of crude oil from Middle East countries including Iran.
NOC said that the price will slightly increase in the Nepali market with a hike in the international market but there will be no impact on the supply of petroleum products.
“We will not hike petro prices randomly,” said NOC Managing Director Surendra Poudel.
He said that Indian Oil Corporation (IOC) has assured them of regular supply of fuel.
Poudel said they are in regular contact with IOC officials.
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