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Fortnightly Under-Recoveries on Petroleum Products And international Prices of Crude Oil: indian Basket As on 15.01.2012

  • The Petroleum Planning and Analysis Cell under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the past fortnight. Accordingly, the impact of the prices prevailing at the end of the fortnight ending on 15/1/2012   (from 1/1 to 15/1/2012) is provided in below:

    • Average international FOB price   for Indian Basket of Crude Oil and Exchange Rate ;

    Particulars

    Unit

    Price on last trading day i.e., 13, January, 2011

    Fortnight

    Jan 1-15, 2012

    Crude Oil (Indian Basket)

    ($/bbl)

     100. 59

       110. 95

    (`/bbl)

    5687.64

    5,827. 09

    Exchange Rate

    (`/$)

       51. 43

         52. 52

    2.Product-wise Under-recovery of Public Sector Oil Marketing Companies (OMCs);

Product

Unit

Under-recovery (effective 16 January  2012)

Diesel

`/Litre

12.95

PDS Kerosene*

`/Litre

28.50

Domestic LPG*

`/Cylinder

326.00

    * Additionally, a subsidy of ` 0.82/Litre on PDS Kerosene and ` 22.58/Cylinder on Domestic LPG is provided by the Government.

    OMCs are currently (effective 16th   January, 2012) incurring daily under-recovery of about  ` 427 crore  on the sale of Diesel, PDS Kerosene and Domestic LPG.

    3.  The OMC’s have reported the following under-recovery during the 1st   half  of the current year (April-Sept. 2011) :

    Product

    Under Recovery (`/Crore)

    Diesel

    37,719

    PDS Kerosene

    13,361

    Domestic LPG

    13,820

    Total

    64,900