1 May 2012

Under-Recoveries Continue to Remain High on Diesel, PDS Kerosene and Domrstic LPG Effective Ist May

Indian Basket Crude Oil Price Marginally Lower on 30.04.2012 to Rule at US$ 117.09 Per BBL

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 April 2012. Accordingly, the under-recoveries on HSD (High Speed Diesel) applicable for 1st  fortnight of May has remained high at Rs 13.91/litre effective                May 01, 2012. This was, though, marginally lower than Rs 14.29/litre in the previous fortnight. In case of  PDS Kerosene the under-recoveries increased to  Rs 31.49/Litre  for the current month against Rs 31.04/litre in the month of April 2012.Theunder-recoveries on Domestic LPG at Rs 480.50/cylinder is also quite high, however it was lower than that in previous month.  The overall impact of the prices prevailing at the end of the fortnight ending on 30/4/2012 is provided in below:

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

Under-recoveries effective 01th    May  2012
(Effective 16.4.2012 to 30.4.2012)
                 13.91 (14.29)         
PDS Kerosene*
                31.49  (31.04 )  
Domestic LPG*
              480.50 (570.50)
* 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 01 May, 2012) incurring daily under-recovery of about Rs 518 croreon the sale of Diesel, PDS Kerosene and Domestic LPG.

The OMC’s have reported the following under-recovery during 2011-12: 
Under Recovery (Rs/Crore)
in April-Dec 2011 (in April-December 2011)
            81,192      (56,732 )           
PDS Kerosene
            27,352      (20,065)       
Domestic LPG
            29,997      (20,516)  
          138,541      (97,313)          

3. Average  International FOB price  and Exchange rates :

Price on last trading day i.e., 30,April, 2012 (Previous trading day i.e.,27.04.2012)
April 16-30, 2012
(previous fortnight 01.04.2012 to 15.04. 2012)
Crude Oil (Indian Basket)
   117.09        (117.15)
          116.20      (120.58 )        
(Rs /bbl)
  6149.52     (6171.46)
        6063.32    (6174.90 )      
Exchange Rate
      52.52         (52.57)
            52.18        (51.21 )     
RCJ /RKS – Under-recovery 01-05-2012  

You May Also Like


Popular Posts