Nepal Has Imported Rs. 4.8 billion Less LPG This Year

Nepal Has Imported Rs. 4.8 billion Less LPG This Year

July 9, 2023, 8:43 a.m.

Import of LPG has declined during the nine months of current fiscal year. Nepal has imported just Rs. 54. 32 billion worth of LPG this year compared to 59.16 billion LPG was imported last year. This is 4.84 billion less.

During the 11 months of the current financial year, the import of all fossil fuels imported from abroad has decreased by 20 billion. According to the data of the Customs Department, during the period from July to May of the current financial year, the import of all types of fossil fuel has decreased by 20 billion.

In the 11 months of the last financial year 2078-79, fossil fuel worth 3 trillion 40 billion rupees was imported from abroad. Whereas, in the period of 11 months of the current year, only 3 trillion 20 billion 99 million rupees of mineral fuel was imported.

Compared to last year, the price of fossil fuel has increased worldwide. Therefore, it seems that the import of fuel has decreased even when the price has increased. Nepal has been importing a large amount of petrol, diesel, aviation fuel, LP gas and coal from abroad.

According to the data, the import of diesel, petrol, LPG etc. has decreased in the current year. On the other hand, the import of aviation fuel has increased. Diesel worth 1 trillion 45 billion rupees was imported in 11 months of the last financial year, while diesel worth 1 trillion 37 billion rupees was imported during the same period of the current year. This is 8 billion less.

Similarly, petrol worth 62.91 billion rupees was imported in the last financial year. Whereas, in the current year, petrol worth 61.38 billion has been imported. This is 1.53 billion less.

During this period, the import of aviation fuel from abroad has increased. 11.88 billion worth of aviation fuel was imported last year, and 18 billion worth of aviation fuel has been imported this year. This is more than 6 billion. Moreover, compared to last year, the import of kerosene has also decreased by 11 million. Last year, 1.43 billion worth of kerosene was imported, this year total 1.32 billion worth of kerosene has been imported.

Moreover, during this period, the import of petroleum products has decreased in terms of price as well. According to the data, compared to 11 months of last year, the import of petrol has decreased by 57 thousand kilo liters. Last year, 678 thousand kilo liters of petrol was imported. Whereas, only 621 thousand kilo liters of petrol has been imported in the current year.

Similarly, last year, 1.6 lakh kilo liters of diesel was imported, but only 1.2 lakh 26 thousand kilo liters of diesel were imported in 11 months of this year. It is less by 3 lakh 74 thousand kilo liters while the import of LP gas has decreased by 15 thousand kilos during this period.

In the 11 months of last year, 48.9 million kilograms of LP gas were imported, but this year only 47.4 million kilograms were imported. Moreover, during this period, the import of aviation fuel has decreased by 117,000 kiloliters. However, due to the increase in its price in the international market, 6 billion more than last year has been repatriated.

Especially, due to the Russia-Ukraine war, the increase in the price of petroleum products in the international market has reduced the result, but the import price has increased. Due to this reason, even though the import of all petroleum products has decreased compared to last year, the amount has increased. Due to the covid epidemic and the Russia-Ukraine war, there is an economic recession all over the world. The impact of which has also affected the Nepali market and the import and consumption of fuel has decreased.

Similarly, with the recent increase in the production of electricity in Nepal, the government is also emphasizing on its consumption. The increase in the use of electric stoves instead of LP gas for cooking and the increase in the use of electric vehicles is also affecting the import and consumption of fuel.

More on Economy

The Latest

Latest Magazine

VOL. 17, No. 17, April.12,2024 (Chaitra,30. 2080) Publisher and Editor: Keshab Prasad Poudel Online Register Number: DOI 584/074-75

VOL. 17, No. 16, March.29,2024 (Chaitra,16. 2080) Publisher and Editor: Keshab Prasad Poudel Online Register Number: DOI 584/074-75

VOL. 17, No. 15, March.10,2024 (Falgun,27. 2080) Publisher and Editor: Keshab Prasad Poudel Online Register Number: DOI 584/074-75

VOL. 17, No. 14, February.23,2024 (Falgun,11. 2080) Publisher and Editor: Keshab Prasad Poudel Online Register Number: DOI 584/074-75