Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/18/2013 | 12:27pm CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
10:39p AFRICAN UNION : Media Advisory Workshop on Services Sector Development Invitation to Representatives of the Media
10:35p FERRARI : GTC4Lusso T revealed
10:29p OOREDOO : QNB Sign MoU to Support Qatar s SME Sector
10:24p GEO ESTATE : Ubumwe first in action as FIBA-Africa Zone V Club tourney starts
10:24p GEO ESTATE : Hakizimana quits Espoir, says club pushed him out
10:04p GOLDEN DAWN MINERALS : Initiates The Reactivation Of Its Greenwood Project
10:04p GOLDEN DAWN MINERALS : 2,736,012-share private placement
09:55p URC sells P4.38-B treasury shares
09:54p ESMA EUROPEAN SECURITIES AND MARKETS AUTHORITY : Summary of Conclusions Management Board Meeting 24/05/2016
09:53p DEUTSCHE BANK : executives heading to U.S. in coming days - FAZ
Latest news
Advertisement
Hot News 
-13.25%COGNIZANT TECHNOLOGY : Investigating Indian Payments
2.60%MCCORMICK MPANY INCORPORATED : Boosts Full-Year Outlook
3.40%Costco quarterly profit beats on lower fees to Visa
5.41%Savannah Resources 1st Half Net Loss Narrows; Extends JV Deadline
-2.85%H & M HENNES & MAURITZ : &M 3Q Net-Profit Falls 9% on Quarter
Most Read News
02:48aDJCBS : Viacom, CBS Move to Explore Merger -- WSJ
09/30 VOLKSWAGEN : will pay $1.21 billion to settle U.S. dealer claims
02:49aDJAT&T : to Stop Collecting Customers' Internet Visits -- WSJ
09:48aDJDEUTSCHE BANK : Current and Former MPS, Deutsche Bank, Nomura Executives Charged in Italy -- 2nd Update
09/30 AUDI : opens Mexico plant to make Q5 SUV
Most recommended articles
09/26Predicting the U.S. Elections With The WMA Trump/Clinton Barometer
03:53p DEUTSCHE BANK : executives heading to U.S. in coming days - FAZ
02:23p EXCLUSIVE : EU wants Google to stop anti-competitive Android practices, fine expected
12:37p COMMERZBANK : German bank regulator warns of negative perception spiral
09:18a Milan court orders trial over Monte dei Paschi trades - legal sources