Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Ministry of Petroleum and Natural Gas of the Repub : Under-Recovery on Diesel Effective 16.02.2013 increases to Rs 10.27 per litre mark

02/18/2013 | 06:27am US/Eastern
Recommend:
0

February Under-recovery on Domestic LPG, and PDS Kerosene remain high
OMCs Incurring Daily Under-Recoveries of Rs 454 Crore
Crude Oil Price for Indian Basket went up to US$ 114.49 per barrel on February 15, 2013

The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas have reviewed international prices of crude oil and petroleum products during the Ist Fortnight ofFebruary 2013. Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2ndfortnight of February effective 16.02.2013 has increased to Rs10.27 /Litre. This was Rs 9.22 per litre effective 11.2.2013 for Ist fortnight of February2013. In case of Domestic LPG and PDS Kerosene under-recoveries remain same at Rs 481.00/ cylinder Rs 31.60 per litre respectively for February 2013 as under-recoveries on these products are computed on monthly basis.

Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs);

Product
Unit
Under-recoveries effective February 16, 2013
(Effective 1.2.2013 to 15.2.2013)
Diesel
Rs/Litre
10.27(9.22)
PDS Kerosene*
Rs/Litre
31.60(31.60)
Domestic LPG*
Rs/Cylinder
481.00(481.00)

*Additionally, a subsidy ofRs0.82/Litre on PDS Kerosene andRs22.58/Cylinder on Domestic LPG is provided by the Government.

OMCs effective 16 February 2013 are incurring daily under-recovery of aboutRs454 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This was Rs 400 crore per day for the previous fortnight effective 1.2.2013.

Further, the OMC's have reported the following under-recoveries during April-December 2012:

Product
Under Recovery (Rs/Crore)
2012-13
(April-December 2012)
2011-12
2010-11
Diesel
73,815
81,192
34,706
PDS Kerosene
21,891
27,352
19,484
Domestic LPG
29,148
29,997
21,772
Petrol
--
--
2,227
Total
124,854
138,541
78,190

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

Particulars
Unit
Price on last trading day i.e., February 15,, 2013(Previous trading day of 14.2.2013)
Fortnight February)1-15, 2013
(previous fortnight 16 - 31/1/ 2013)
Crude Oil (Indian Basket)
($/bbl)
114.49(114.88)
113.86 (109.95)
(Rs/bbl)
6181.32(6188.59)
6093.79 (5926.31)
Exchange Rate
(Rs/$)
53.99(53.87)
53.52 (53.90)

RCJ/RKS - Under-recovery 18-02-2013

distributed by
Recommend :
0
React to this article
Latest news
Date Title
<1m ago MAVENIR SYSTEMS : Introduces mobile videomail
<1m ago EMC : Southern Africa supports Cancer Association of SA
<1m ago QLIK TECHNOLOGIES : to offer free cloud environment for Personal Edition users to share apps
1m ago Revenue Analytics Partner Dr. Jon Higbie to Address 25th Annual Production and Operations Management Conference
2m ago MATTEL : Mega Brands shareholders vote to approve US$460-million takeover by Mattel
2m ago TEXTRON : Declares Quarterly Dividend
2m ago More Women Covet Good Hair Over Good Wardrobe, According to National B'IOTA Survey
2m ago PATHFINDER BANCORP : Announces First Quarter Earnings
2m ago UK insurer Saga planning a 3 billion pound London listing - sources
2m ago AMERAMEX INTL : International Receives Additional $486,000 Rental Equipment Agreement Increasing Rental Revenue to $1.3 Million
Latest news
Advertisement
Hot News 
MEDLEY CAPITAL : Announces the Pricing of the Offering of 6,000,000 Shares of its Common Stock
IRONVELD : Shares Jump 26% As Study Confirms Viability Of Iron Project
ZOTEFOAMS : Unilever to use Zotefoams's MuCell® Extrusion technology for its Dove Body Wash Bottles in Europe
EVERCORE PARTNERS : Reports First Quarter 2014 Results; Quarterly Dividend of $0.25 Per Share
VMWARE : New managing director for vmware
Most Read News
1d ago GENERAL MOTORS : GM seeks U.S. court protection against ignition lawsuits
1d ago MCDONALD : Yum Brands' China restaurant sales improve, shares rise
6h ago VERIZON COMMUNICATIONS : : 2014 Data Breach Investigations Report Identifies More Focused, Effective Way to Fight Cyberthreats
1d ago ETHAN ALLEN INTERIORS : Reports results for quarter ended march 31, 2014
1d ago LG HOUSEHOLD & HEALTH CARE : & Healthcare considering bid for Elizabeth Arden
Most recommended articles
3h ago Global share rally peters out, euro lifted by PMI boost
2h ago Weaker FTSE 100 gets support from ABF and AstraZeneca
1d ago Barclays joins retreat from commodities as new rules bite
6d ago BLACKSTONE : earnings rise 30 percent, boosted by private equity gains
2m ago UK insurer Saga planning a 3 billion pound London listing - sources
Dynamic quotes  
ON
| OFF