Diesel import up by 14%, petrol by 13%

Diesel import up by 14%, petrol by 13%

Nepal’s petrol and diesel imports increased by 13 percent and 14 percent, respectively, in Fiscal Year 2014/15, compared to import figures of a fiscal year earlier.

According to Nepal Oil Corporation (NOC), a total of 287,449 kiloliters (KL) of petrol was imported in the review year compared to 253,381 KL imported in 2013/14. Similarly, 921,262 kiloliter of diesel was imported in 2014/15. In 2013/14, Nepal had imported 808,567 KL of diesel.
Officials of NOC — the state-owned petroleum monopolist — attributed the growth in import of diesel to long load-shedding hours and growing pace of development activities in the latter months of the fiscal year. “Load-shedding has become a usual phenomenon for us. Because of frequent power cuts, industries and businesses look to diesel-run generators for power supply during load-shedding hours,” Mukunda Ghimire, spokesperson of NOC, told Republica. “This is one of the reasons behind hefty rise in diesel imports in recent years.”

According to Ghimire, the other reason behind rise in diesel import is growing number of development projects across the country. “Number of big infrastructure and development projects has increased in recent years. These industries meet their energy demand by running big diesel-run generators,” he said.

NOC officials have attributed rise in import of petrol to increasing registration of two-wheelers and passenger vehicles like cars.

Statistics of Department of Transport Management (DoTM) shows, 218,360 units of new vehicles were registered in the country in the first 11 months of 2014/15 alone, compared to 198,343 units registered during the review period of 2013/14.

Source: MyRepublica