Indian Basket Crude Oil Price Marginally Lower on 30.04.2012 to Rule at US$ 117.09 Per BBL | |||||||||||||||||||||||||||||||||||||
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 last fortnight of April 2012. Accordingly, the under-recoveries on HSD (High Speed Diesel) applicable for 1st fortnight of May has remained high at Rs 13.91/litre effective May 01, 2012. This was, though, marginally lower than Rs 14.29/litre in the previous fortnight. In case of PDS Kerosene the under-recoveries increased to Rs 31.49/Litre for the current month against Rs 31.04/litre in the month of April 2012.Theunder-recoveries on Domestic LPG at Rs 480.50/cylinder is also quite high, however it was lower than that in previous month. The overall impact of the prices prevailing at the end of the fortnight ending on 30/4/2012 is provided in below: 2. Product-wise Under-recovery of Public Sector Oil Marketing Companies (OMCs);
* Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided by the Government. OMCs are currently (effective 01 May, 2012) incurring daily under-recovery of about Rs 518 croreon the sale of Diesel, PDS Kerosene and Domestic LPG. The OMC’s have reported the following under-recovery during 2011-12:
3. Average International FOB price and Exchange rates :
RCJ /RKS – Under-recovery 01-05-2012 |
2 May 2012
Under-Recoveries Continue to Remain High on Diesel, PDS Kerosene and Domrstic LPG Effective Ist May
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