A substantial hike in fuel prices in July

The Ministry of Economic Affairs had issued a revised pricing of fuel to distributors across the country.

Sangay Rabten

With the recent hike in India, the prices of fuel in the country have also risen from July with the subsequent increase in India.

The prices of both the petrol and diesel from Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOCL) have increased in all the eastern, western and central region of Bhutan.

The Ministry of Economic Affairs (MoEA) had issued a revised pricing of PoL to distributors across the country.

The prices of petrol and diesel imported bought from BPCL and sold by Bhutan Oil Distributor (BOD) in Thimphu under western region had increased by Nu 3.13 and Nu 2.2 respectively per liter.

The price of petrol rose from Nu 71.78 to Nu 74.91 while the price of diesel increased from Nu 70.60 to Nu 72.80.

The new BPCL prices of petrol and diesel in Phuentsholing are Nu 72.89 and Nu 70.87 respectively while the new price of IOCL for petrol is Nu 72.91 and Nu 70.91 for diesel.

In Samtse IOCL prices for petrol and diesel are Nu 72.46 and Nu 70.45 respectively while BPCL’s new price for petrol is Nu 72.44 and Nu 70.42 for diesel.

The BPCL’s new rate of petrol in Wangdue is Nu 75.10 and Nu 73.03 for diesel while new rate of petrol in Khuruthang is Nu 75.15 and Nu 73.01 for diesel.

The new prices of IOCL for some of central region like in Gelephu, the price of the petrol is Nu 69.08 and Nu 68.45 for diesel while the price for petrol and diesel in Zhemgang are Nu 71.18 and Nu 70.37 respectively as per the revised rate of the MoEA.

Under the same region, the petrol in Bumthang will cost Nu 73.11 and the diesel will cost Nu 72.00 while in Dagana, the petrol will cost Nu 71.42 and Nu 70.64 for diesel.

Under the eastern region the prices of petrol and diesel of IOCL in Samdrup Jongkhar are Nu 69.63 and Nu 69.04 respectively while in Nganglam are Nu 69.63 and Nu 69.00 respectively.

In Trashigang, the cost of petrol is Nu 71.41 and Nu 70.04 for diesel and Nu 72.55 and Nu 71.79 respectively.

While the prices of fuel will be cheapest in Gelephu, the costliest part will be in Gasa. The price of petrol for Gasa is Nu 76.68 and Nu 74.32 for diesel.

Meanwhile, the prices of Liquefied Petroleum Gas (LPG) and kerosene have also increased. The price of nonsubsidised LPG has increased to Nu 862 from Nu 836 for a cylinder and new price of kerosene is Nu 46.61 per liter in Thimphu.

The price of fuel is dependent upon the cost of crude oil, the taxes that centre and state impose, dealer’s commission, among others.

There are daily fluctuations in the prices of petrol and diesel due to dynamic pricing system that reflects fluctuations in global oil market.