KATHMANDU: Nepal Oil Corporation (NOC), which earned some profit in the previous month, is going to make a profit of 1.6 billion rupees in the month of Ashwin.

Due to the coronavirus pandemic, Russia-Ukraine war, etc., the price of crude oil increased in the international market, and the price also increased in Nepal.

The monthly profit of the corporation has reached 1.6 billion rupees after the fall in the price of crude oil in the international market to 87 US dollars per barrel.

According to the price sent by the Indian Oil Corporation in October, the corporation will earn a profit of Rs 6.45 per liter on petrol and Rs 12 per liter on diesel.

Although the corporation estimates that it will make a profit of 80 million rupees in 15 days by selling fuel at the same price, the corporation said that it will not reduce the price of fuel immediately because the accumulated fund has run out of money and NOC is in Rs 40 billion debt.

Earlier, NOC had decided to introduce the automatic price adjust system as per the change in the price list NOC receives from IOC. However, the Corporation, which increased the price every time it went up in international market, has not reduced the price when it went down.