The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products for the month of May 2017. In the case of PDS Kerosene, the under-recoveries with effect from June 1, 2017 will be Rs 8.86 per litre. The under-recovery was Rs. 10.68 per litre in the first fortnight of May 2017 and Rs. 10.43 in the last fortnight of the month. The cash transfer to customer under DBTL will be Rs. 105.85, out of which Rs. 77.26 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 28.59 will be the Cash compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):
Under Recovery (eff. 1st June 17)
Cash transfer to customer under DBTL(eff. 1st June 17)
Cash Compensation on Domestic LPG by Govt. to consumers**
Cash Compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers**
* Under Recovery is for Mumbai Market.
** Cash Subsidy is for Delhi market.
The under-recoveries/DBTL Subsidy for 2016-17 was Rs. 19,728 crore, while the figure was Rs. 27,571 crore for 2015-16 and Rs 76, 285 crore for 2014-15.