Under-Recovery on Diesel Effective 01.01.2013 goes past at Rs 9.03 per litre mark Under-recovery for December on Domestic LPG, and PDS Kerosene remain high OMCs Incurring Daily Under-Recoveries of Rs 389 Crore Crude Oil Price for Indian Basket went down to US$ 108.46 per barrel on 31.12.2012

Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

01-January-2013 16:18 IST

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 2^nd Fortnight of December 2012. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for Ist fortnight of December effective 01.01.2013 has decreased to Rs 9.03 /Litre. This was Rs 9.28 per litre effective 01.12.2012 for 2^nd fortnight of December 2012. In case of Domestic LPG the under-recovery for January 2012 is no change i.e. to Rs 490.50 cylinder   for January 2013. The Under-recovery on PDS Kerosene too has remained at same level of Rs 30.64 per litre for January 2012.

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. The under-recoveries on these products are computed on monthly basis.

OMCs are currently (effective 01 January 2013) incurring daily under-recovery of about Rs 389 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This was Rs 420 crore per day for the previous fortnight effective 16.12.2012.

Further, the OMC’s have reported the following under-recoveries during April-September 2012: 

 3. Details of average International FOB price and Exchange rates are:

RCJ/RKS – Under-recovery 01-01-2013