Under-Recovery on Diesel Effective 16.01.2013 Rises to Rs 9.60 per litre OMCs Incurring Daily Under-Recoveries of Rs 384 Crore Crude Oil Price for Indian Basket goes up to US$ 108.76 per barrel on 15.01.2013

Press Information Bureau

Government of India

Ministry of Petroleum & Natural Gas

16-January-2013 16:16 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 January 2013. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2^nd fortnight of January effective 16.01.2013 has increased to Rs 9.60 /Litre. This was Rs 9.03 per litre effective 01.01.2013 for 1^st fortnight of January 2013. In case of Domestic LPG and PDS Kerosene the under-recoveries for January 2013 (effective 1.1.2013) are Rs 490.50/Cylinder and Rs 30.64 per litre respectively. The under-recovery on Domestic LPG and PDS Kerosene is computed on monthly basis.  

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 16 January 2013) incurring daily under-recovery of about Rs 384 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This was Rs 389 crore per day for the previous fortnight effective 1.01.2013.

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

 3. Details of crude oil  price and Exchange rates are:

RCJ/RKS – Under-recovery 16-01-2013