Log in
Login
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
React to this article
Latest news
Date Title
09:10a HONDA MOTOR : Announces Safety Suite on 2017 Accord Hybrid - Bicycle and Motorcycle Accident Lawyers Urge Automakers To Offer Blind Spot Cameras
09:04a CHANGE - ANNOUNCEMENT OF APPOINTMENT : : Appointment Of Company Secretary
09:04a CHANGE - ANNOUNCEMENT OF CESSATION : : Resignation Of Company Secretary
09:02a EURO BERHAD : Registration Open for UAV Technology Eastern Europe
09:02a HEXAGON : ERP Staffing Solutions Experts PlanIT Search Highlight How Their Brand Continually Stands Above Others in the Industry
09:02a UNITED REAL ESTATE K : ® Real Estate’s Top Performing Agents Transacted Over $54,732,503 in Sales Volume in Q1 2016
09:02a SOUTHEASTERN BANK FINANCIAL : Georgia Bank, Southern Bank company reports higher earnings
08:49aDJSequoia Reopens To New Clients -- WSJ
08:49aDJChinese Oil Sector Bends to Slump -- WSJ
08:49aDJExxon Swoons, but Investors Cheer -- WSJ
Latest news
Advertisement
Hot News 
ANDALAS ENERGY AND POWER : Issue of Zero Coupon Loan Note
6D GLOBAL TECHNOLOGIES, INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
AVOLON : sustains strong performance as fleet increases to over 400 aircraft
PETRO MATAD : Expecting "Highly Material" Compensation From Partner
HML : Director Dealing April 2016
Most Read News
04/29 SAMARCO MINERAÇÃO : Citizen’s Home is inaugurated in Anchieta (ES)
04/29 EMERALD PLANTATION : Notice of Extraordinary General Meeting
04/29 Introducing New Villa Homes In The Charming Town Of Noblesville, IN
04/29 IMPORTANT LA QUINTA Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a class action lawsuit has been commenced on behalf of shareholders of La Quinta Holdings Inc. -- LQ
12:15a NIOC NATIONAL IRANIAN OIL : Asias March Iran Oil Imports Up 50
Most recommended articles
02:49aDJSequoia Reopens To New Clients -- WSJ
02:49aDJChinese Oil Sector Bends to Slump -- WSJ
02:49aDJExxon Swoons, but Investors Cheer -- WSJ
02:49aDJOusted Priceline CEO Took 32% Pay Cut -- WSJ
02:49aDJBeer Giant Offers to Sell Some Brands -- WSJ