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The Government of Nepal on Sunday decided to implement a two-day public holiday--Saturday and Sunday--in response to the ongoing fuel crisis linked to prolonged conflict in West Asia, which has caused major disruption to the global energy trade due to the virtual closure of the Strait of Hormuz.
The decision was taken during a meeting of the Council of Ministers held at the Office of the Prime Minister in Kathmandu. Government offices and all educational institutions will observe the new weekend schedule starting April 6 to help facilitate petroleum supply, government spokesperson Sasmit Pokharel said. Pokharel stated that the move to close offices and schools on Sundays was prompted by ongoing disruptions in petroleum supplies and added that government offices, excluding educational institutions, will now operate from 9 am to 5 pm on working days. The Cabinet has also decided to prepare the necessary legal framework to support the conversion of petrol- and diesel-powered vehicles into electric vehicles. According to the spokesperson, the decision was taken as fuel supply has become increasingly uncertain due to escalating conflict in West Asia. The government believes that promoting the conversion of petrol- and diesel-powered vehicles into electric ones could help address potential fuel shortages while supporting the country's transition toward cleaner transportation. The ongoing conflict involving Iran, Israel, and the United States has disrupted global petroleum supply, contributing to shortages and a sharp rise in fuel prices in Nepal. Petroleum prices in Nepal have reached an all-time high, with the latest revision by the state-owned Nepal Oil Corporation (NOC) pushing petrol prices to NPR 202 per litre in the Kathmandu Valley. Diesel and kerosene prices have also increased to NPR 182 per litre. The decision follows a meeting of the NOC's board of directors last week, which approved an NPR 15 per litre hike for petrol, diesel, and kerosene. This marks the third price increase in just 18 days, following hikes on March 15 and March 25. Petrol prices in Nepal have now surpassed the previous record set in June 2022, when petrol reached NPR 199 per litre and diesel NPR 192 per litre. After fluctuating over the years, petrol prices had dropped to NPR 156 per litre and diesel to NPR 137 per litre in January 2026. Prices had previously surged during the Russia-Ukraine War, but the current increase marks an unprecedented peak. Over the past 18 days alone, petrol prices have jumped by NPR 45 per litre, while diesel and kerosene have risen by NPR 40 per litre. The price of aviation fuel for domestic flights has surged by NPR 124 per litre, while for international flights in Kathmandu it has reached USD 819 per kilolitre. With the revision, domestic aviation fuel prices increased from NPR 127 per litre to NPR 251 per litre. Despite the latest adjustments, NOC reports losses of NPR 34.36 per litre on petrol, NPR 120.54 per litre on diesel, and NPR 416.37 per LPG cylinder, estimating fortnightly losses at NPR 11.71 billion. Prices are likely to rise further depending on international market trends. (ANI)
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