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 second fortnight of July 2012. Accordingly,
the under-recovery on HSD (High Speed Diesel) applicable for 1st
fortnight of August effective 1.08.2012 increased substantially to Rs12.13
/litre. This is higher than Rs 9.95/litre
prevailing during previous fortnight. In case of
PDS Kerosene also the under-recovery is higher at Rs 28.54
/litre for the month of August 2012 than Rs 27.20/litre for July 2012. However under-recovery on Domestic LPG
for August 2012, though fell to Rs 231/cylinder from Rs 319/Cylinder in July
2012, it continuous to rule at high. OMCs are currently (effective 1
August, 2012) incurring daily under-recovery of about Rs 402
crore on the sale of Diesel, PDS Kerosene and
Domestic LPG.
Product-wise Under-recovery of
Public Sector Oil Marketing Companies (OMCs);
|
Product
|
Unit
|
Under-recoveries
effective 1 August 2012
(Effective
16.7.2012 to 31.7.2012)
|
|
Diesel
|
Rs/Litre
|
12.13 (9.95)
|
|
PDS
Kerosene*
|
Rs/Litre
|
28.54
(27.20)
|
|
Domestic
LPG*
|
Rs/Cylinder
|
231.00 (319.00)
|
* Additionally, a subsidy
of Rs
0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder
on Domestic LPG is provided by the Government.
Further, the OMC’s have
reported the following under-recoveries during 2011-12:
|
Product
|
Under Recovery (Rs/Crore)
|
||
|
|
2012-13
(April-June 2012)
|
2011-12
|
2010-11
|
|
Diesel
|
29,042
|
81,192
|
34,706
|
|
PDS Kerosene
|
7,274
|
27,352
|
19,484
|
|
Domestic LPG
|
11,495
|
29,997
|
21,772
|
|
Petrol
|
--
|
--
|
2,227**
|
|
Total
|
47,811
|
138,541
|
78,190
|
** Under-recoveries on petrol
is only up to 25th June’10
Average
International FOB price and Exchange rates:
|
Particulars
|
Unit
|
Price
on last trading day i.e., 31 July, 2012 (Previous trading day i.e.,30.07.2012)
|
Fortnight
July
16-31, 2012
(previous fortnight July 1-15, 2012 )
|
|
Crude
Oil (Indian Basket)
|
($/bbl)
|
103.34
(103.87)
|
102.65 (97.78)
|
|
(Rs
/bbl)
|
5767.41 (5758.55)
|
5703.23 (5418.97)
|
|
|
Exchange
Rate
|
(Rs/$)
|
55.81
(55.44)
|
55.56 (55.42)
|
RCJ/RKS – Under-recovery 01-08-2012
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