In what was described as the highest hike ever, the petrol price in the country will go up by Nu. 6.67 with effect from midnight today. A litre of petrol will now cost Nu. 66.93 in Thimphu. The rate will differ from one Dzongkhag to another, depending on the transportation costs. The news comes 24 hours after the hike in India.
As soon as the news broke in Indian media last night, scene at the fuel stations in Thimphu was unusual. Long queues of vehicles were seen and the scene was no different today until late in the evening. One of the vehicle owners remarked; “it was a chaotic .” He said that it took him three hours to get his car refueled.
Meanwhile, some of the fuel depots in Thimphu have run out of stock.
According to the press release from Department of Trade, Ministry of Economic Affairs, a fall in the value of Rupee in India has increase the cost of importing of crude oil. The Rupee fell to 56 a dollar for the first time in May. This leads to overall increase in the price of petrol.
The last increase in the price petrol was affected in November last year.
