November 14: The consumption of petroleum products in the domestic market of Nepal has gone down lately. According to the Nepal Oil Corporation (NOC), the consumption of petroleum products has significantly decreased in the current fiscal year (FY 2022/23) as compared to the previous year.    
Data of the NOC shows that 44,513 kiloliters of petrol and 78426 kiloliters of diesel were consumed between mid-October to mid-November this year compared to 63,315 kiloliters of petrol and 135,812 kiloliters of diesel consumed during the correspondent period of the last fiscal year.    
In past, the supply of petroleum products used to increase during festivals and elections, but this time the situation is different, NOC Spokesperson Binitmani Upadhyay said.    
Liquidity crunch, unfavorable season for development works, the skyrocketing prices of petroleum products and higher prices in the domestic market compared to the Indian market are among the factors for the decline in fuel consumption.    
Higher price of petroleum products in the domestic market may encourage people to fill up their vehicles in Indian cities taking an advantage of the open border between Nepal and India, it has been observed. -- RSS