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Amid buzz of a one-time higher dose of diesel price hike, the under recovery on diesel prices came down further to Rs 1.62 a litre for the current fortnight. The under-recoveries for the financial year 2014-15 are projected to be Rs 91,665 crore while the figure was Rs 1,39,869 in the 2013-14.
This was Rs 2.80 per litre during the first fortnight of June. In the case of kerosene and domestic liquefied petroleum gas, the under-recoveries for the second fortnight of June 2014 continues to be Rs 32.87 a litre and Rs 432.71 a cylinder respectively, as in the last fortnight.
Oil Marketing Companies (OMCs) are now incurring combined daily under-recovery of about Rs 249 crore on the sale of diesel, kerosene and cooking gas. This is less than Rs 262 crore daily under-recoveries during previous fortnight.
