Kathmandu. Due to the increasing tension in the Middle Eastern countries, the price of crude oil has started fluctuating in the international market. The increasing tension in the Middle Eastern countries has created panic among consumers as the impact of the increasing tension will reach Nepal through the world market.

Nepal is completely dependent on imports of fuel. As a result, consumers believe that international tensions can put pressure on the economy and supply chain. However, Nepal Oil Corporation (NOC) has clarified that there is no problem in fuel supply in the country at present.

Spokesperson of Nepal Oil Corporation Manoj Kumar Thakur said that the supply system is being operated regularly. “There is general fluctuation in the price of crude oil in the international market but it does not have immediate impact in Nepal,” he said. Our supply system is regular. There is no immediate shortage of petrol and gas. ’

According to him, Nepal does not directly import petroleum products from the war-torn Middle East. Nepal has been importing petroleum products from India. “We have been purchasing petrol, diesel, kerosene and LP gas through long-term agreement with Indian Oil Corporation. The supply is being done regularly as per the agreement,” Thakur said.

According to him, there is sufficient fuel stock across the country at present. The NOC has claimed that the stock is safe enough to sustain the demand for at least 15 days and there will be no immediate price hike. “Even if the price goes up in the international market, it will not have an immediate impact. The effect can be seen only after 15 days through the price adjustment process,” he said.

Since the Middle East is one of the world’s major oil producers, the volatility there has a direct impact on international markets. Although the price of crude oil has increased in recent days, the supply has not been completely disrupted. However, prices are likely to rise further if tensions prolong.

In Nepal, the number of vehicles at petrol pumps has increased in some places as rumors have started spreading. According to the corporation, the crowd has increased as consumers have started filling more fuel than required for fear of possible price hike. NOC Spokesperson Thakur urged the general public not to fill more fuel than required following the rumour.

Timilsina, president of the Consumer Rights Research Forum, said that the increasing tension in the Middle East countries will affect Nepal. He said that it will have a long-term impact in Nepal. “Nepal is poorly prepared for the impact of such incidents. Timilsina said, “Nepal is completely dependent on imports. We don’t have our own products. Storage capacity is also limited. If the international crisis prolongs, it will have a direct impact on the Nepali market. ’