Nepal sharply raises jet fuel prices to avoid supply disruption from Iran war

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Nepal has more than doubled the price of aviation fuel, triggering a sharp rise in airfare, as the Himalayan nation looks to avoid supply disruption caused by the conflict in the Middle East, Reuters reports.

Nepal Oil Corporation has raised fuel prices by 84.7 per cent for international flights from Kathmandu, by 116.2pc for jets operating from Pokhara, and 117.4pc from Bhairahawa, saying it needs to make payments to refiner Indian Oil Corporation for supplies.

Jet fuel prices for domestic flights have been raised by 97.6pc, Nepal’s state-run agency that imports, stores and distributes petroleum products in the country, has said.

This has resulted in a surge in domestic airfare of as much as 50pc, according to the Civil Aviation Authority of Nepal.

“The increase is because [of] the abnormal situation existing now … and will hurt the passengers. But the airfares will decrease as soon as the fuel prices fall,” its spokesperson Gyanendra Bhul says.

The fare hike will especially hurt tourists, trekkers and mountain climbers as it comes ahead of the peak tourism season, industry officials have stated.

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