Proposed fiscal reforms for automotive fuels Petrol Increase selling price before state taxes and duties by Rs 2.50 per litre each month to align with full cost price Total increase of Rs 10.90 per litre in selling prices before taxes Temporary reduction in excise duty to Rs 10 per litre to be restored by March 2009 Total increase of Rs 11.28 per litre before

A committee recommends rationalization of diesel and petrol prices The long awaited pricing formula for petroleum products to bail out the oil industry from impending bankruptcy has been tabled. If put into effect this prescription can correct distorted prices of automotive fuels of petrol and diesel and halt misuse of under-taxed and under-priced diesel by the car sector. This is

The government is going to present the fuel conservation plan to the Economic Co-ordination Committee (ECC) on Tuesday, including one-day closure of petrol pumps across the country to save much-needed costly fuel. Sources said the Economic Monitory Committee (EMC) will clear the plan for ECC in its meeting scheduled for Monday (today).

The Nepal Oil Corporation (NOC) said Thursday that it has managed to improve petrol availability, but has slashed the supply of diesel and kerosene -- the two major loss making items -- augmenting their shortage in the market.
The corporation is presently pumping out about 110,000 liters of diesel a day in the Kathmandu Valley, shows NOC records. This is just about 40 percent of what used to be consumed here during normal times.

Petrol price hiked again: Pakistan

The government has approved an Oil and Gas Regulatory Authority (OGRA) recommendation of upward revision of POL prices, a statement issued by the regulatory authority said on Sunday.

Rising petroleum prices would affect Pakistan's agriculture sector as farmers depend on fuel to operate their tube-wells to get irrigation water the prime requirement for the growth of crops.

'Due to inadequate canal system, farmers are dependent on electric and diesel run tube-wells for irrigation but price escalation of oil would have negative impact on their production,' the Secretary General, Kisan Bachao Tehreek, Ahmed Noor Advocate told APP.