NOC 7.81B loss

Nepal Oil Corporation faces a projected loss of Rs 7.81 billion over 15 days because the Gulf War caused a gap between rising purchase costs and fixed retail prices. Purchase costs from Indian Oil Corporation stand at Rs 221.32/litre for petrol and Rs 294.99/litre for diesel, while retail prices are Rs 219 and Rs 207 respectively. NOC says prices will be adjusted if international petroleum prices decline.