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Press Information Bureau
Government of India
Ministry of Petroleum & Natural Gas
16-December-2011 12:18 IST
Fortnightly under-Recoviries on Petroleum Products and International Prices of Crude Oil- Indian Basket as on 16.12.2011
‘20’

 

The Petroleum Planning and Analysis Cell under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the past fortnight. Accordingly, the impact of the prices prevailing at the end of the fortnight ending on 16/12/11   (from 01/12 to 15/12/2011) is provided in below:

 

                Average international FOB price   for Indian Basket of Crude Oil and Exchange Rate ;

 

Particulars

Unit

Price on last trading day i.e., 15, December, 2011

Fortnight

Dece.01-15,2011(last fortnight)

Crude Oil (Indian Basket)

($/bbl)

104.65

108.22

(Rs./bbl)

5676.22

5,665.32

Exchange Rate

(Rs./$)

54.24

52.35

 

2.             Product-wise Under-recovery of Public Sector Oil Marketing Companies (OMCs);

 

Product

Unit

Under-recovery (eff. 16,December, 2011)

Diesel

Rs./Litre

11.51

PDS Kerosene*

Rs./Litre

28.56

Domestic LPG*

Rs./Cylinder

287.00

* Additionally, a subsidy of Rs. 0.82/Litre on PDS Kerosene and Rs. 22.58/Cylinder on Domestic LPG is provided by the Government.

 

                OMCs are currently (effective 16th  December, 2011) incurring daily under-recovery of about Rs.    388 crore  on the sale of Diesel, PDS Kerosene and Domestic LPG.

 

3.  The OMC’s have reported the following under-recovery during the 1st half  of the current year (April-Sept. 2011) :

 

Product

Under Recovery

(Rs./Crore)

Diesel

37,719

PDS Kerosene

13,361

Domestic LPG

13,820

Total

64,900

 

 RCJ /RKS – Under-recovery 16-12-11