OIL & GAS

High gas, diesel prices in India prompt smuggling of fuel from Nepal

Pump prices are so high in India that some of the gasoline and diesel exported to neighbouring countries is being smuggled back through porous land borders.

A large oil truck loaded with 1,360 liters (359 gallons) of diesel that was being smuggled to India, where pump prices are at a record, was held last week in Nepal, the police said in a statement.

Pump prices of gasoline, which have breached the ₹100 a liter mark in several parts of India, are the highest in the South Asian region, according to data compiled by GlobalPetrolPrices.com. That’s resulting in illegal trade as Indians grapple with soaring fuel prices.

Ironically, Nepal gets all its petroleum fuels from India, which also exports to neighbours Bangladesh and Sri Lanka.

“Smuggling has become rampant as prices are cheaper in Nepal because of tax differentiation,” said Ravi Bharti, who operates a gas station at Adapur in eastern India’s Bihar state

Source
Livemint
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