Nepal doubles jet fuel prices amid Middle East conflict
Nepal doubled jet fuel prices to secure supplies during the Middle East conflict. The hike led to a 50 percent rise in domestic airfares for all travelers.
Nepal has more than doubled the price of aviation fuel starting Tuesday midnight, a move that has triggered a sharp rise in airfares across the country. The decision comes as the Himalayan nation seeks to avoid supply disruptions stemming from the regional conflict involving Iran.
The state-run Nepal Oil Corporation announced that fuel prices for international flights departing from Kathmandu have increased by 84.7%. Even steeper hikes were recorded for jets operating from Pokhara and Bhairahawa, at 116.2% and 117.4% respectively. These adjustments are intended to ensure the agency can maintain payments to its refiner, Indian Oil Corporation Limited, for ongoing supplies.
