Kathmandu, March 26: The global economy is feeling the impact of escalating tensions between Iran and the U.S.-Israel alliance. Oil prices have been on a steady rise, prompting several countries to increase fuel prices and implement rationing at petrol stations. According to Bangladeshi media, jet fuel prices in the country have surged by 80%.
In Nepal, the Nepal Oil Corporation (NOC) has announced a price hike for petroleum products. Effective from midnight, the prices for petrol, kerosene, and diesel will increase by NPR 15 per liter. The last adjustment occurred on March 15. Following the new changes, petrol prices will now be NPR 184.50 per liter for the first category, NPR 186 for the second, and NPR 187 for the third category.
Similarly, diesel and kerosene will be sold at NPR 164.50 per liter for the first category, NPR 166 for the second, and NPR 167 for the third. The first category includes locations such as Charali, Biratnagar, Janakpur, Amlekhganj, Bhalbadi, Nepalgunj, and Birgunj. Surkhet and Dang fall into the second category, while Kathmandu, Pokhara, and Dipayal are classified in the third.
The NOC clarified that the price increase was necessary to align domestic petroleum prices with recent international market fluctuations.
In Bangladesh, the Energy Regulatory Commission has cited volatility in the global market due to the U.S.-Israel conflict with Iran, leading to a significant 80% increase in consumer-level jet fuel prices. For domestic flights, the price has risen from BDT 112.41 to BDT 202.29 per liter. For international flights, the cost has jumped from $0.738 (BDT 90.58) to $1.3216 (BDT 162.21) per liter.
The U.S. has also witnessed a spike in oil prices. In Pakistan, grappling with an economic crisis, petrol and diesel prices have surged by 20-25%. Additionally, European countries, particularly Germany, have seen gas and petrol prices rise by 10-15%, while Thailand has initiated fuel rationing at petrol stations.
Fuel rationing implies setting limits on fuel sales. When a country faces a significant oil shortage or soaring prices, governments or petrol station owners may impose rules on how much fuel an individual can purchase at one time.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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