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Most fuel stations in the districts of Bara and Parsa remained closed on Wednesday after the Nepal Oil Corporation reduced petroleum prices, forcing consumers to return empty-handed as an artificial fuel shortage emerged.

Petrol pump operators reportedly shut down their outlets, saying they would incur losses by selling fuel purchased at higher prices after the state-owned oil supplier slashed retail rates.

Following the price reduction, many stations displayed signs reading "No Petrol, No Diesel" and suspended sales. As a result, motorists seeking petrol and diesel were unable to purchase fuel.

The Nepal Oil Corporation reduced the price of petrol by Rs 20 per litre and diesel and kerosene by Rs 30 per litre.

Consumers complained that while fuel stations continued selling existing stock and earned higher profits whenever prices increased in the past, many operators chose to halt sales immediately after prices were cut.

The price revision was approved by the corporation's board of directors during its meeting on Tuesday, covering petrol, diesel, kerosene, aviation fuel and liquefied petroleum (LPG) cooking gas.

Under the revised rates, petrol now costs Rs 197 per litre and diesel and kerosene Rs 195 per litre in Kathmandu, Pokhara and Dipayal, down from Rs 217 and Rs 225 respectively.

In Biratnagar, Janakpur, Amlekhgunj, Bhairahawa, Nepalgunj, Dhangadhi and Birgunj, petrol is now priced at Rs 194.50 per litre and diesel at Rs 192.50 per litre. In Surkhet and Dang, petrol costs Rs 196 per litre while diesel is priced at Rs 194 per litre.

By Upendra Yadav