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 last fortnight of April 2012. Accordingly, the under-recoveries on HSD (High Speed Diesel) applicable for 2nd fortnight of May effective 16.05.2012 has remained high at Rs 13.64/litre effective May 16, 2012. This was, though, marginally lower than Rs 13.91/litre in the previous fortnight. In case of PDS Kerosene and Domestic LPG the under-recoveries remain same at Rs 31.49/Litre and Rs 480.50/cylinder respectively. The under-recoveries are computed on monthly basis in respect of PDS Kerosene and Domestic LPG. The overall impact of the prices prevailing at the fortnight ending on 15/5/2012 is provided in below:
2. Product-wise Under-recovery of Public Sector Oil Marketing Companies (OMCs);
Under-recoveries effective 16th May 2012
(Effective 01.5.2012 to 15.5.2012)
* 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 are currently (effective 16th May, 2012) incurring daily under-recovery of about Rs 509 crore on the sale of Diesel, PDS Kerosene and Domestic LPG.
The OMC’s have reported the following under-recovery during 2011-12:
Under Recovery (Rs/Crore)
** Under-recoveries on petrol is only up to 25th Jun’10
3. Average International FOB price and Exchange rates:
Price on last trading day i.e., 15 May, 2012 (Previous trading day i.e.,14.05.2012)
May 01-15, 2012
(previous fortnight 16 - 30/04/ 2012)
Crude Oil (Indian Basket)
RCJ /RKS – Under-recovery 16-05-2012