Fuel prices continue to drop

MB Subba

Fuel prices have dipped to almost a decade low owing to Covid-19 pandemic.

The petrol price in Thimphu has decreased to Nu 49.91 a litre. A litre of diesel now costs Nu 46.73.

The drop in the prices comes two weeks after the last revision. Officials with the Department of Trade said that the price decrease was due to a decrease in fuel demand in India and across the world due to the Covid-19 pandemic.

In the early months of 2011, the petrol price in Thimphu was about Nu 52 per litre, according to records with Kuensel.

A few weeks ago, the price of petrol per litre was Nu 58.63, while diesel cost Nu 53.52 a litre.

According to international media reports, prices in the international market on Monday had fallen at their lowest level since 2002.

According to the Department of Trade, the government had stocked 1,000KL (kilolitres) of Petrol and Diesel each as of March 18, 2020.

The stock, according to the department, is maintained to ensure uninterrupted supply of PoL (petrol, oil and lubricants) products.

However, the price of a subsidised liquefied petroleum gas (LPG) cylinder has increased to Nu 589, up by Nu 19.

The price of a non-subsidised LPG cylinder, however, has dropped to Nu 817 from Nu 882.

The Department of Trade also states that it is in the process of stocking 40,000 LPG cylinders at Thingchupangka, Thimphu.

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