The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas have reviewed international prices of crude oil and petroleum products during the Ist Fortnight of February 2013. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2nd fortnight of February effective 16.02.2013 has increased to Rs10.27 /Litre. This was Rs 9.22 per litre effective 11.2.2013 for Ist fortnight of February2013. In case of Domestic LPG and PDS Kerosene under-recoveries remain same at Rs 481.00/ cylinder Rs 31.60 per litre respectively for February 2013 as under-recoveries on these products are computed on monthly basis.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs);
Product
|
Unit
|
Under-recoveries effective February 16, 2013
(Effective 1.2.2013 to 15.2.2013)
|
Diesel
|
Rs/Litre
|
10.27 (9.22)
|
PDS Kerosene*
|
Rs/Litre
|
31.60 (31.60)
|
Domestic LPG*
|
Rs/Cylinder
|
481.00 (481.00)
|
*Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided by the Government.
OMCs effective 16 February 2013 are incurring daily under-recovery of about Rs 454 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This was Rs 400 crore per day for the previous fortnight effective 1.2.2013.
Further, the OMC’s have reported the following under-recoveries during April-December 2012:
Product
|
Under Recovery (Rs/Crore)
| ||
2012-13
(April-December 2012)
|
2011-12
|
2010-11
| |
Diesel
|
73,815
|
81,192
|
34,706
|
PDS Kerosene
|
21,891
|
27,352
|
19,484
|
Domestic LPG
|
29,148
|
29,997
|
21,772
|
Petrol
|
--
|
--
|
2,227
|
Total
|
124,854
|
138,541
|
78,190
|
3. Details of average International FOB price and Exchange rates are:
Particulars
|
Unit
|
Price on last trading day i.e., February 15,, 2013(Previous trading day of 14.2.2013)
|
Fortnight February)1-15, 2013
(previous fortnight 16 - 31/1/ 2013)
|
Crude Oil (Indian Basket)
|
($/bbl)
|
114.49 (114.88)
|
113.86 (109.95)
|
(Rs/bbl)
|
6181.32 (6188.59)
|
6093.79 (5926.31)
| |
Exchange Rate
|
(Rs/$)
|
53.99 (53.87)
|
53.52 (53.90)
|
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