Why Petrol is so expensive in Nepal?

*UPDATE 6: 25th June 2022: After the price roamed around 200, the government has not reduced the petrol price by Rs 20. It's 179 per liter now. But as things stand, the problem is not solved yet. Global prices are still up. Government can reduce taxes to make it even cheaper right now. But its a relief from 199.
https://ekantipur.com/news/2022/06/25... *

When I first started researching for this video a month ago, the petrol price was Rs. 139. While video-editing, it rose to Rs. 142 and now when releasing this video, the price has already escalated to Rs. 145. Six rupees might seem less, but this change over a month equals 52% per annum increment, which is four times more than the loan interest rate the government offers. This increasing trend clearly shows where the Oil Prices are headed to in the near future. Why it is so, however, is more complex. Can Nepali government do anything? Or are we doomed to face the worst?

*I have intentionally excluded the Russia- Ukraine Crisis, which might fuel the rising prices to a whole new level but its a complete different rabbit hole and it would not have been possible to put everything up in a single video. However, the other major reason are discussed in the video.



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Sources:
[http://noc.org.np/fortnightly]

[https://kathmandupost.com/money/2022/...]

[https://thehimalayantimes.com/nepal/n...](
[https://economictimes.indiatimes.com/...]

[https://kathmandupost.com/money/2021/...]

[http://country.eiu.com/article.aspx?a...]

[https://www.nrb.org.np/contents/uploa...]

[https://www.researchgate.net/publicat...]

[https://qz.com/2115735/opec-countries...]

[https://www.investopedia.com/articles...]

[https://theprint.in/economy/prolonged...]

[https://oilprice.com/]

[https://www.reuters.com/world/america...]

[https://kathmandupost.com/money/2014/...]

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