The under-recovery, or revenue loss, applicable on diesel for the second fortnight effective July 16 has been pegged sharply upwards at Rs.9.45 per litre, the petroleum ministry said Tuesday.
This compares to the under-recovery of Rs.8.60 per litre during the first fortnight of July 2013.
"In the case of PDS kerosene and domestic LPG, under-recoveries for the month of July 2013 are Rs.30.52 per litre and Rs.368.58 per cylinder, respectively," the ministry said in a statement
"OMCs (oil marketing companies), effective 16 July 2013, are incurring combined daily under-recovery of about Rs.362 crore on the sale of diesel, PDS Kerosene and domestic LPG. This is substantially higher than daily under-recovery of Rs.358 crore for the previous fortnight effective 16.6.2013," the statement added.
The Indian basket crude oil price per barrel as on the last trading day - July 15 - stood at $105.80, or Rs.6,353.29 (exchange rate of Rs.56.50 to a US dollar per barrel).
OMCs have been authorised by the government to increase the retail selling price of diesel within a small range every month.