Under-Recovery on Diesel Effective 16.01.2013 Rises to Rs 9.60 per litre


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 during the 2nd Fortnight ofJanuary 2013. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2ndfortnight of January effective 16.01.2013 has increased to Rs 9.60 /Litre. This was Rs 9.03 per litreeffective 01.01.2013 for 1st fortnight of January 2013. In case of Domestic LPG and PDS Kerosene the under-recoveries for January 2013 (effective 1.1.2013) are Rs 490.50/Cylinder and Rs 30.64 perlitre respectively. The under-recovery on Domestic LPG and PDS Kerosene is computed on monthly basis.

Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs);

Product Unit Under-recoveries effective January 16, 2013

(Effective 01.01.2013 to 15.01.2013)

Diesel Rs/Litre               9.60       (9.03)
PDS Kerosene* Rs/Litre               30.64      (30.64)
Domestic LPG* Rs/Cylinder           490.50    (490.50)

*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 January 2013) incurring daily under-recovery of about Rs 384crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This was Rs 389 crore per day for the previous fortnight effective 1.01.2013.

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 crude oil  price and Exchange rates are:

Particulars Unit Price on last trading day i.e., 15 January, 2013(Previous trading day of 14.01.2013) Fortnight January 01-15, 2013

(previous fortnight 16 – 31/12/ 2012)

Crude Oil (Indian Basket) ($/bbl)    108.76             (108.25)     109.08              (107.76)
(Rs/bbl)  5931.77           (5914.78)   5969.95            (5912.79)
Exchange Rate (Rs/$)      54.54              (54.64)

       

      54.73                (54.87)

RCJ/RKS – Under-recovery 16-01-2013

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