सिंहदरबार संवाददाता
Kathmandu. With the rise of Donald Trump as US President, the price of petroleum products has started to fall. The price of petroleum products is set to fall after President Trump ordered the release of oil reserves in the US.
With this directive from Trump, the share of oil imported by the US will decrease significantly. Similarly, the use of petroleum products is decreasing even as the use of electric vehicles is increasing globally.
US President Donald Trump has predicted that oil demand will decrease after starting a trade war. The International Energy Agency (IEA) has predicted that the oil market will be affected by the rise of Trump.
The IEA data shows that crude oil prices have fallen in February and early March. Concerns about the impact of the trade war on the global economy have increased and the OPEC+ group has confirmed plans to increase production next month.
Global oil demand is expected to increase by 1 million barrels per day (bpd) in 2025. It was 1.3 million bpd in 2024. This will take overall demand this year to 1.039 million bpd due to low oil prices and increased demand from China.
The body that advises developed countries on energy policy has lowered its forecasts for the last quarter of 2024 and the first three months of this year. “New US tariffs will act as a drag on global trade and economic growth in 2025,” the IEA said in its monthly oil market report.
The oil price adjustment has been made by the oil price regulator as oil prices have fallen in international markets. The Corporation has adjusted the prices of petroleum products for the next 15 days. The Corporation has set new prices effective from midnight on Saturday. Accordingly, the price of petrol has been reduced by Rs 5 per liter, diesel by Rs 4, and kerosene by Rs 4. According to the new price, petrol has been fixed at Rs 163 per liter, diesel at Rs 151, and kerosene at Rs 151.
The corporation has urged people to check the newly fixed price before making payment when purchasing petroleum products.
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