Fuel prices hike atlast !!!!

[RAAZ]

After more than a year of fuel shortage, the government has come up with a decision to hike the price. This will obviously end the shortage but along with hike in fuel price everything will be costlier now, local vehicle charges, food stuffs and everything.

However, one way I am happy coz no more staying for hours in the fuel lines.
Prices after the hike:
Petrol: Rs 73/liter
Diesel: Rs 56/liter
Kerosene: Rs 51/ liter
LPG gas: Rs 1100/cylinder

source:
KATHMANDU, Oct 24 - The Nepal Oil Corporation (NOC) has hiked the price of petroleum products effective from Wednesday.

As per the revised price, petrol will now cost Rs 73 per liter, diesel will cost 56, Kerosene Rs 51 while the cooking gas will now cost Rs 1100 to the consumers.

The price of petrol has increased by six rupees, three rupees each for diesel and kerosene and by two hundred rupees per LP Gas cylinder.

The NOC has stated that the price has been hiked after taking the political parties on board.

It may take a few more days before the smooth supply of oil as the NOC is to pay a huge amount in dues to the Indian Oil Corporation, the NOC sources informed.

The state-run enterprise had been pressing the government to review the price of petroleum products, citing huge losses it had been incurring by distributing fuel at subsidized rates.

NOC owes Rs 4.88 billion to the IOC.

Over the recent months, the IOC had slashed the supply of petroleum products, citing NOC’s failure to clear the dues.

This has triggered an acute fuel shortage in the country and even consumers had been requesting the government to hike the price of petro products to ensure a smooth supply.

The crisis had come to such a point that people were reportedly buying petrol at Rs 100 per liter at black market outlets.

However, addressing “technical leakages” in the NOC is also a challenge for the government.

[GaZzEtTe]

Hiking the price is ganna be a big problem for the poor population. All the stuffs will now be expensive. I say, NOC should control the leakage inside their organization first.
So, I take option 'C'.

[risj_shr]

It was expected. But the detail on how the increment has been done should be flashed.
Previously NOC had said that it would readjust the price of the Petroleum products according to the International price, but it never happened as it was planned. This time the Price has been increases but no detail on what basis the price has been increased...?
just the reason for increament is NOC couldnot pay to IOC.

Moreover, Reports have come that there is Petroleum scarcity in South Asian region. BBC reports that after a decade there shall be big scarcity of Fuel in Asian region, as INDIA and CHINA are the biggest consumer..
Lets hope some resonable alternatives could come soon..