Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
19-December, 2012 12:12 IST
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 Ist Fortnight of December 2012. Accordingly, the under-recovery (UR) on High Speed Diesel (HSD) applicable for 2nd fortnight of December effective 16.12.2012 declined to Rs 9.28 /Litre which is still a high level. This was Rs 10.03 per litre effective 01.12.2012 for Ist fortnight of December. In case of Domestic LPG and PDS Kerosene the under-recoveries for December 2012 remain unchanged i.e. to Rs 520.50/cylinder and Rs 30.93 per litre respectively as the under-recoveries on these products are computed on monthly basis.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs);
|
Product
|
Unit
|
Under-recoveries effective December 16, 2012
(Effective 01.12.2012 to 15.12.2012)
|
|
sel
|
Rs/Litre
|
9.28 (10.03)
|
|
PDS Kerosene*
|
Rs/Litre
|
30.93 (30.93)
|
|
Domestic LPG*
|
Rs/Cylinder
|
520.50 (520.50)
|
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 16 December 2012) incurring daily under-recovery of about Rs 411 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., 14 December, 2012 (Previous trading day of 13.12.2012)
|
Fortnight
December)01-15, 2012
(previous fortnight 16 - 30/11/ 2012)
|
|
Crude Oil (Indian Basket)
|
($/bbl)
|
106.39 (106.90)
|
106.85 (108.94)
|
|
(Rs /bbl)
|
5786.55 (5797.19)
|
5815.85(6010.22)
|
|
Exchange Rate
|
(Rs/$)
|
54.39 (54.23)
|
54.43 (55.17)
|
RCJ/RKS – Under-recovery 17-12-2012
| |
|
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 Ist Fortnight of December 2012. Accordingly, the under-recovery (UR) on High Speed Diesel (HSD) applicable for 2nd fortnight of December effective 16.12.2012 declined to Rs 9.28 /Litre which is still a high level. This was Rs 10.03 per litre effective 01.12.2012 for Ist fortnight of December. In case of Domestic LPG and PDS Kerosene the under-recoveries for December 2012 remain unchanged i.e. to Rs 520.50/cylinder and Rs 30.93 per litre respectively as the under-recoveries on these products are computed on monthly basis.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs);
|
Product
|
Unit
|
Under-recoveries effective December 16, 2012
(Effective 01.12.2012 to 15.12.2012)
|
|
Diesel
|
Rs/Litre
|
9.28 (10.03)
|
|
PDS Kerosene*
|
Rs/Litre
|
30.93 (30.93)
|
|
Domestic LPG*
|
Rs/Cylinder
|
520.50 (520.50)
|
*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 16 December 2012) incurring daily under-recovery of about Rs 411 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., 14 December, 2012 (Previous trading day of 13.12.2012)
|
Fortnight
December)01-15, 2012
(previous fortnight 16 - 30/11/ 2012)
|
|
Crude Oil (Indian Basket)
|
($/bbl)
|
106.39 (106.90)
|
106.85 (108.94)
|
|
(Rs /bbl)
|
5786.55 (5797.19)
|
5815.85(6010.22)
|
|
Exchange Rate
|
(Rs/$)
|
54.39 (54.23)
|
54.43 (55.17)
|
RCJ/RKS – Under-recovery 17-12-2012
|
