Daily Under-Recovery of Rs 420 crore effective from 01 November 2013
According to reviewed international prices of crude oil and petroleum products during the 2nd fortnight of October 2013, the under-recovery on High Speed Diesel (HSD) applicable for 1st fortnight of November effective 01 November 2013 fell to Rs 9.58 per/litre. This was Rs 10.24 per litre during 2nd fortnight of October 2013 w.e.f. 16 October 2013. In the case of PDS Kerosene and Domestic LPG, under-recoveries fell to for the month of November 2013 at Rs 35.77 per litre (Rs 38.32/litre) and Rs 482.41 per cylinder (Rs 532.86/ Cylinder) respectively.
OMCs, effective 1 November 2013, are now incurring combined daily under-recovery of about Rs 420 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is lower than Rs 442 crore daily under-recovery during previous fortnight effective 16 October 2013.
The OMC's have reported a total of Rs 60,907 crore as under-recoveries during 1st half of 2013-14 on Diesel, PDS Kerosene, Domestic LPG.
The international crude oil price of Indian Basket increased to US$ 107.79/per barrel (bbl) on 31 October 2013. This is higher than the price US$ 107.38/bbl which prevailed on the previous trading day of 30 October 2013.
In rupee terms also, the crude oil price rose to Rs 6619.38 per bbl on 31 October 2013 as compared to Rs 6602.80 /bbl on 30 October 2013. This was due to price increase in dollar terms, though rupee appreciation reduced a part of the impact. Rupee-dollar exchange rate on 31 October 2013 was Rs 61.41/US$ against Rs 61.49/US$ on previous trading day of 30 October 2013.
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