Though NOC has storage capacity of 72,000 liters across the country, it has been failing to fill the stock due to worsening financial capacity to pay for additional purchases.[break]
The loss-making corporation had strengthened its stock to 37,000 KL in July last year when it reported profit in fuel trade.
“We are increasing stocks of petroleum products taking advantage of drop in crude prices,” Suresh Kumar Agrawal, acting executive director of NOC, told Republica. “NOC, however, is not a position to jack up stock to its full capacity due to funds crunch.”
Crude prices had dropped to US$ 98 per barrel few days back before it increased to $102 and $103 on Friday and Saturday, respectively.
According to Agrawal, stock of diesel at Amlekhgunj, Bhairawa and Nepalgunj depots has been increased while petrol stock has been boosted in Thankot depot.
Meanwhile, demand for diesel has decreased by as much as 50 percent compared to normal demand due to rise in construction works and perennial power shortage in the country.
NOC has been earning profit of Rs 9.42 per liter in petrol, Rs 1.39 per liter in diesel, Rs 13 .78 per liter in kerosene and Rs 25 per liter in ATF.
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