Fuel Price Hike Impacts Transport Sector; Truck Entrepreneurs Demand Automatic Fare Adjustment

Rising global crude oil prices have led to increased fuel costs in Nepal, with the Nepal Oil Corporation recently raising diesel prices effective from Baishakh 2, 2083. The hike has directly affected the transport sector, prompting concerns from the Nepal Truck Transport Entrepreneurs Federation.

The federation has urged the government to implement an automatic fare adjustment system based on fuel price fluctuations, as previously agreed with the Department of Transport Management. It stated that transport fares should be revised whenever fuel prices rise or fall by more than 5 percent.

The group also noted that recent price hikes have increased diesel costs by up to Rs 5.51 per litre over two adjustments, making it difficult to operate services under existing fare rates. It has called for immediate revision of fares based on the latest price changes.

Additionally, the federation has demanded removal of extra taxes on petroleum products, introduction of a vehicle odd-even system to reduce fuel consumption, and timely fare adjustments to prevent financial strain on transport operators.