Petroleum products worth Rs. 18.75 bn imported in first month of current FY

By A Staff Reporter,Kathmandu, Aug. 27: The import of petroleum products has slightly increased in the first month of the current fiscal year 2024/25.

According to the trade statistics of Department of Customs, the country has imported petroleum products worth of Rs. 18.75 in the first month (mid-July 2024 to mid-August 2024) of the current fiscal year 2024/25. 

This is 5 per cent higher than the import of petroleum products in the first month of last fiscal year 2023/24.

Petroleum products worth Rs. 17.86 billion had been imported in the first month of the last fiscal year.

During the review period, the import of petrol, aviation fuel and liquefied petroleum gas has increased while the import of diesel and kerosene has decreased. 

Around 59,644 kilolitres (kl) of petrol worth Rs. 5.69 billion, and 12,472. A aviation fuel worth Rs. 1.20 billion has been imported in the first month of the current fiscal year. 

The country had imported 56,901 kl of petrol worth Rs. 5.44 billion and 12,548 kl of aviation fuel worth Rs. 1.17 billion in the first month of the last fiscal year.

Similarly, the country has imported 72,052 kl of diesel worth Rs. 6.98 billion and 656 kl of kerosene worth Rs. 63 million in the first month of the current fiscal year while the country had imported 76916 kl of diesel worth Rs. 7.34 billion and 1060 kl of kerosene worth Rs. 98 million in the first month of the last fiscal year.

The import of cooking gas (LPG) has increased by 26 per cent in the first month of the current fiscal year as compared to same period last fiscal year.

About 45,735 tonnes of LPG worth Rs. 4.82 billion has been imported in the first month of the current fiscal year. The country had imported 45,631 tonnes of LPG worth Rs. 3.82 billion in the first month of the last fiscal year.

The import of petroleum products decreased in the last fiscal year 2023/24 as compared to the previous fiscal year 2022/23.

The country had imported petroleum products worth Rs. 289 billion in the last fiscal year. 

The country had imported petroleum products worth Rs. 300.28 billion in the fiscal year 2022/23 and Rs. 322 billion in the fiscal year 2021/22.  

In the first month of the current fiscal year, there has been a decrease in both the imports and exports. Due to the sluggishness in the country's economy, there has been a contraction in import and export.  

The imports have decreased by 0.67 per cent to Rs. 128.37 billion and the exports decreased by 9.63 per cent to Rs. 12.22 billion during the review period as compared to the same period last fiscal year.