Nepal Raises Fuel Prices Citing Rising Global Costs Amid West Asia Conflict

Nepal has increased fuel prices amid escalating tensions in West Asia involving Iran, Israel, and the United States. The Nepal Oil Corporation cited rising international oil prices and supply challenges as reasons for the hike. Petrol prices rose by Rs 15 to Rs 31 per liter, diesel by Rs 10 to Rs 54 per liter, and LPG by Rs 296 per cylinder, effective March 16. The conflict has disrupted global energy supplies, impacting Nepal's fuel import costs and potentially raising inflation and transportation expenses.