Daily Under-Recovery of Rs 422 crore effective from 16 November 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 1st fortnight of November 2013. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2nd fortnight of November effective 16 November 2013 rose to Rs 9.69 per litre. This was Rs 9.58 per litre during 1st fortnight of November 2013 w.e.f. 1 November 2013. In the case of PDS Kerosene and Domestic LPG, under-recoveries are computed on monthly basis which for the month of November 2013 are Rs 35.77 per litre and Rs 482.41 per cylinder respectively.Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):
*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.
Oil Marketing Companies (OMCs), effective 16 November 2013, are now incurring combined daily under-recovery of about Rs 422 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is a shade more than Rs 420 crore daily under-recoveries during previous fortnight effective 1 November 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 (1sthalf) 2012-13 2011-12 2010-11Diesel 28,266 92,061 81,192 34,706PDS Kerosene 14,057 29,410 27,352 19,484Domestic LPG 18,585 39,558 29,997 21,772Petrol -- -- -- 2,227Total 60,907 1,61,029 1,38,541 78,190Powered by Capital Market - Live News