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 May 2012. Accordingly, the under-recovery on HSD (High Speed Diesel) applicable for 1st fortnight of June effective 1.06.2012 was marginally lower at Rs 12.53/litre than Rs 13.64/Litre effective May 16, 2012. In case of PDS Kerosene and Domestic LPG the under-recoveries decreased to Rs 30.53/Litre and Rs 396.00/cylinder respectively from Rs 31.49/Litre for PDS, Kerosene and Rs 480.50/Cylinder forDomestic LPG effective 01.05.2012. 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 31/5/2012 is provided in below:
2. Product-wise Under-recovery of Public Sector Oil Marketing Companies (OMCs);
|
Product |
Unit |
Under-recoveries effective 1st June 2012 (Effective 16.5.2012 to 31.5.2012) |
|
Diesel |
Rs/Litre |
12.53 (13.64) |
|
PDS Kerosene* |
Rs/Litre |
30.53 (31.49) |
|
Domestic LPG* |
Rs/Cylinder |
396.00 (480.50) |
* Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided by the Government.
OMCs are currently (effective 1st June, 2012) incurring daily under-recovery of about Rs 457 crore on the sale of Diesel, PDS Kerosene and Domestic LPG.
The OMC’s have reported the following under-recoveries during 2011-12:
|
Product |
Under Recovery (Rs/Crore)
|
||
|
|
2011-12 |
April-December 2011 |
2010-11 |
|
Diesel |
81,192 |
56,732 |
34,706 |
|
PDS Kerosene |
27,352 |
20,065 |
19,484 |
|
Domestic LPG |
29,997 |
20,516 |
21,772 |
|
Petrol |
-- |
-- |
2,227** |
|
Total |
138,541 |
97,313 |
78,190 |
** Under-recoveries on petrol is only up to 25th June’10
3. Average International FOB price and Exchange rates:
|
Particulars |
Unit |
Price on last trading day i.e., 31 May, 2012(Previous trading day i.e.,30.05.2012) |
Fortnight May 16-31, 2012 (previous fortnight 01 - 15/05/ 2012) |
|
Crude Oil (Indian Basket) |
($/bbl) |
101.63 (103.47) |
105.57 (111.55) |
|
(Rs /bbl) |
5733.96 (5795.35) |
5844.36 (5957.89) |
|
|
Exchange Rate |
(Rs/$) |
56.42 (56.01) |
55.36 (53.41) |
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