Diesel Under-Recovery falls to Rs 7.16/litre for the fortnight commencing 16 March 2014

Combined Daily Under-Recovery lower at Rs 399 crore effective from 16 March 2014

The under-recovery on High Speed Diesel (HSD) applicable for 2nd fortnight of March effective 16 March 2014 fell to Rs 7.16 per/litre. This was Rs 8.37 per litre during Ist fortnight of March 2014 w.e.f. 01 March 2014. In the case of PDS Kerosene and Domestic LPG the under-recoveries for the month of March 2014 remains unchanged at Rs 36.34 per litre and Rs 605.80 per cylinder respectively as their refinery gate prices are determined on monthly basis . Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):

Product Unit Under-recoveries effective 16 March 2014 (Previous fortnight effective 01 March 2014)Diesel Rs/Litre                              7.16               (8.37)   PDS Kerosene* Rs/Litre                            36.34              (36.34)     Domestic LPG* Rs/Cylinder                          605.80            (605.80) 

Oil Marketing Companies (OMCs), effective 16 March 2014, are now incurring combined daily under-recovery of about Rs 399 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is lower than Rs 411 crore daily under-recoveries during previous fortnight effective 01 March 2014.

Further, the OMCs reported a total of Rs 1, 00,632 crore as under-recoveries during Ist nine months of 2013-14 (April-December) on sale of Diesel, PDS Kerosene and Domestic LPG. Following are product-wise details of the under-recoveries:-

Product Under Recovery (Rs/Crore)2013-14 (April-December 2013) 2012-13 2011-12 2010-11Diesel 47,655 92,061 81,192 34,706PDS Kerosene 22,373 29,410 27,352 19,484Domestic LPG 30,604 39,558 29,997 21,772Petrol -- -- 2,227Total 1,00,632 1,61,029 1,38,541 78,190

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