Posted by: Kiddo February 2, 2015
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This is my speculation
1) Nepal Oil Corp (NOC) had been subsidizing the prize of oil in the past. Mostly due to public protests, NOC had been taking a huge loss while supplying the oil to the market. This is quite surprising considering their officers took big fat bonus; nevertheless, to compensate for the losses in the past - they have been reluctant on lowering down the price substantially.
2) Retailers (Gas Stations) want higher profit on the oil they sell. In their defense, they bought tankers of oil for old price and are now told to sell it for lower price; however, had this gone the other way (price going higher), they would've been happy to take that profit.
Bottom line: Greed, bad management, lack-of-willingness in understanding by the public etc.
1) Nepal Oil Corp (NOC) had been subsidizing the prize of oil in the past. Mostly due to public protests, NOC had been taking a huge loss while supplying the oil to the market. This is quite surprising considering their officers took big fat bonus; nevertheless, to compensate for the losses in the past - they have been reluctant on lowering down the price substantially.
2) Retailers (Gas Stations) want higher profit on the oil they sell. In their defense, they bought tankers of oil for old price and are now told to sell it for lower price; however, had this gone the other way (price going higher), they would've been happy to take that profit.
Bottom line: Greed, bad management, lack-of-willingness in understanding by the public etc.