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Diesel under-recovery falls to INR 5.49/litre

The under-recovery, or revenue loss, on diesel for the second fortnight effective April 16 has been pegged lower at INR 5.49 per litre from INR 5.93 during the first fortnight of the month, the petroleum ministry said Wednesday.

"In the case of PDS Kerosene and Domestic LPG the under-recoveries for the month of April 2014 remains unchanged at INR 34.43 per litre and INR 605.80 per cylinder respectively (as) their refinery gate prices are determined on monthly basis," the ministry added.

"Oil Marketing Companies (OMCs), effective 16.04.2014, are now incurring combined daily under-recovery of about INR 337 crore on the sale of diesel, PDS Kerosene and domestic LPG. This is lower than INR 342 crore daily under-recoveries during previous fortnight effective 01.04.2014," the ministry said. The three firms had together lost INR 1,00,632 crore on the sale of the three products in April-December, the statement said. Since January 2013, diesel rates have risen by a cumulative INR 8.33 per litre.

Source-On Request