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Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
16-November-2012 15:52 IST
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 ofNovember 2012. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2nd fortnight of November effective 16.11.2012 though slightly lower, remains high at Rs 09.06/Litre. In case of PDS Kerosene and Domestic LPG the under-recoveries effective for November 2012 are Rs 31.30/Litre and Rs 478.50/cylinder respectively.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs);
Product | Unit | Under-recoveries effective November 16, 2012 (Effective 01.11.2012 to 15.11.2012) |
Diesel | Rs/Litre | 9.06 (9.84) |
PDS Kerosene* | Rs/Litre | 31.30 (31.30) |
Domestic LPG* | Rs/Cylinder | 478.50 (478.50) |
*Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided by the Government. The under-recoveries on these products are computed on monthly basis.
OMCs are currently (effective 16 November 2012) incurring daily under-recovery of about Rs 412 crore on the sale of Diesel, PDS Kerosene and Domestic LPG.
Further, the OMC’s have reported the following under-recoveries during April-September 2012:
Product | Under Recovery (Rs/Crore) | ||
2012-13 (April-September 2012) | 2011-12 | 2010-11 | |
Diesel | 52,711 | 81,192 | 34,706 |
PDS Kerosene | 14,331 | 27,352 | 19,484 |
Domestic LPG | 18,544 | 29,997 | 21,772 |
Petrol | -- | -- | 2,227 |
Total | 85,586 | 138,541 | 78,190 |
3. Details of average International FOB price and Exchange rates are:
Particulars | Unit | Price on last trading day i.e., 15 November, 2012 (Previous trading day of 14.11.2012) | Fortnight November)01-15, 2012 (previous fortnight 16 - 31/10/ 2012) |
Crude Oil (Indian Basket) | ($/bbl) | 107.91 (106.75) | 106.69 (109.01) |
(Rs /bbl) | 5930.73 (5863.78) | 5797.53 (5834.22) | |
Exchange Rate | (Rs/$) | 54.96 (54.93) | 54.34 (53.52) |
RCJ/RKS – Under-recovery 16-11-2012
Under-recovery on diesel persists, driving daily revenue shortfalls for oil marketing companies and linked to international prices. Under-recovery levels for the fortnight effective 16 November 2012 are reported for Diesel, PDS Kerosene and Domestic LPG, with government-paid per-unit subsidy components for kerosene and LPG and a stated aggregate daily under-recovery being incurred by Oil Marketing Companies. The release also presents OMC-reported under-recovery totals for April-September 2012 by product and notes the average international crude oil price and exchange rate inputs used in computing under-recoveries. of Press 'Enter' after typing page number.
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