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
2nd fortnight of August 2012. Accordingly, the under-recovery on HSD
(High Speed Diesel) applicable for 1st fortnight of September effective 01.09.2012 has
jumped to Rs 17.05/litre
which is significantly higher than Rs 13.76/Litre
during previous fortnight. In
case of PDS Kerosene and Domestic LPG the under-recoveries increased sharply to
Rs 32.70/litre and Rs 347.00/cylinder respectively
for September 2012 (Rs 28.54/Litre
and Rs 231.00/cylinder respectively
for the month of August 2012).
Product-wise
Under-recovery of Public Sector Oil Marketing Companies (OMCs);
|
Product
|
Unit
|
Under-recoveries effective 01 September 2012
(Effective 16.08.2012 to 31.08.2012)
|
|
Diesel
|
Rs/Litre
|
17.05 (13.76)
|
|
PDS Kerosene*
|
Rs/Litre
|
32.70 (28.54)
|
|
Domestic LPG*
|
Rs/Cylinder
|
347.00 (231.00)
|
* Additionally,
a subsidy of Rs 0.82/Litre on
PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided
by the Government. The under-recoveries on these products are computed on
monthly basis.
OMCs
are currently (effective 01 September, 2012) incurring daily under-recovery of
about Rs 551 crore on the sale of
Diesel, PDS Kerosene and Domestic LPG.
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
3. Details of average International FOB price and
Exchange rates are :
|
Particulars
|
Unit
|
Price on last trading day i.e., 31 August,
2012 (Previous trading
day i.e.,30.08.2012)
|
Fortnight
August 16-31, 2012
(previous fortnight 1 - 15/08/ 2012)
|
|
Crude Oil (Indian Basket)
|
($/bbl)
|
111.84 (111.23)
|
112.39 (107.74)
|
|
(Rs /bbl)
|
6231.72 (6189.95)
|
6250.01 (5981.72)
|
|
Exchange Rate
|
(Rs/$)
|
55.72 ( 55.65)
|
55.61 (55.52)
|
RCJ –
Under-recovery 03-09-2012