Oil Prices Drop in Nepal After PM Modi Inaugrates First Ever Indo-Nepal Oil Pipeline
Nepal: Prices Of Peroleum Products Fall After Launch Of Cross Border Oil Pipeline With IndiaNepal PM K P Sharma Oli and PM Modi. (representative image) 

After Prime Minister (PM) Narendra Modi and his Nepali counterpart PM K P Sharma Oli inaugurated the first trans-border oil pipeline between India and Nepal yesterday (10 September), the prices of petroleum products dropped across Nepal, reports Asian News International (ANI).

Upon the launch of the pipeline between Motihari in India and Amlekhgunj in Nepal, the prices of petrol, diesel and kerosene were slashed by two Nepalese rupees (Nepali currency) per litre by the Nepal Oil Corporation (NOC).

Hailing the launch of the oil pipeline, deputy executive director of the NOC, Susheel Bhattarai said that with the inauguration of the project, Kathmandu would now save hundreds of thousands of rupees which it earlier used to incur for transportation of fuel from India to Nepal.

It should be noted that the pipeline project which was announced during PM Modi's first visit to Nepal in 2014 has been completed ahead of the stipulated deadline. The project was first proposed as back in 1996, while the final agreement on it was signed in August 2015.

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