New Delhi Nov 4,2013 : Daily Under-Recovery of Rs 420 crore effective from 1.11.2013 Crude oil price of Indian Basket rises to US$ 107.79/bbl on 31.10.2013
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 October 2013. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for Ist fortnight of November effective 1.11.2013 fell to Rs 9.58 per/litre. This was Rs 10.24 per litre during 2nd fortnight of October 2013 w.e.f. 16.10.2013. In the case of PDS Kerosene and Domestic LPG, under-recoveries fell to for the month of November 2013 at Rs 35.77 per litre (Rs 38.32/litre) and Rs 482.41 per cylinder (Rs 532.86/ Cylinder) respectively.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):
|
Product |
Unit |
Under-recoveries effective 1.11 2013 ( Previous fortnight effective 16.10 2013) |
|
Diesel |
Rs /Litre |
9.58 (10.24) |
|
PDS Kerosene* |
Rs /Litre |
35.77 (38.32) |
|
Domestic LPG* |
Rs /Cylinder |
482.41 (532.86) |
*Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided by the Government and their prices are fixed on monthly basis.
OMCs, effective 1November 2013, are now incurring combined daily under-recovery of about Rs 420 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is lower than Rs 442 crore daily under-recovery during previous fortnight effective 16.10.2013.
The OMC’s have reported a total of Rs 60,907 crore as under-recoveries during Ist half of 2013-14 on Diesel, PDS Kerosene, Domestic LPG. Following are product-wise details of the under-recoveries:
|
Product |
Under Recovery ( Rs /Crore) |
|||
|
2013-14 (1st half) |
2012-13 |
2011-12 |
2010-11 |
|
|
Diesel |
28,266 |
92,061 |
81,192 |
34,706 |
|
PDS Kerosene |
14,057 |
29,410 |
27,352 |
19,484 |
|
Domestic LPG |
18,585 |
39,558 |
29,997 |
21,772 |
|
Petrol |
— |
— |
— |
2,227 |
|
Total |
60.907 |
1,61,029 |
1,38,541 |
78,190 |
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas increased to US$ 107.79/per barrel (bbl) on 31.10.2013. This is higher than the price US$ 107.38/bbl which prevailed on the previous trading day of 30.10.2013.
In rupee terms also, the crude oil price rose to Rs 6619.38 per bbl on 31.10.2013 as compared to Rs 6602.80 /bbl on 30.10.2013. This was due to price increase in dollar terms, though rupee appreciation reduced a part of the impact. Rupee-dollar exchange rate on 31.10.2013 was Rs 61.41/US$ against Rs 61.49/US$ on previous trading day of 30.10.2013.
The table below gives details in this regard
|
Particulars |
Unit |
Price on October 31, 2013 (previous trading day-30.10.2013) |
Last Fortnight October 16-31, 2013 (previous fortnight October 1-15, 2013) |
|
Crude Oil (Indian Basket) |
($/bbl) |
107.79 (107.38) |
107.37 (107.38) |
|
(Rs/bbl) |
6619.38 (6602.80) |
6604.33 (6729.64) |
|
|
Exchange Rate |
(Rs/$) |
61.41 (61.49) |
61.51 (61.74) |
