The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products for the month of December 2016. In the case of PDS Kerosene, the under-recoveries with effect from January 1, 2017 will be Rs 12.78 per litre. The under-recovery was Rs. 10.51 per litre in the first fortnight of December 2016 and Rs. 10.26 in the last fortnight of the month. The cash transfer to customer under DBTL will be Rs. 150.29, out of which Rs. 121.87 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 28.42 will be the Cash compensation on Domestic LPG by OMCs towards 'Uncompensated Costs' to consumers.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):
Product
Unit
Under Recovery (eff. 1st Jan 17)
Cash transfer to customer under DBTL(eff. 1st Jan 17)PDS Kerosene*
(Rs./Litre)
12.78
-Cash Compensation on Domestic LPG by Govt. to consumers**
(Rs./Cylinder)
-
121.87Cash Compensation on Domestic LPG by OMCs towards 'Uncompensated Costs' to consumers**
(Rs./Cylinder)
-
28.42
* Under Recovery is for Mumbai Market.
** Cash Subsidy is for Delhi market.
The under-recoveries/DBTL Subsidy for 2015-16 was Rs. 27,571 crore, while the figure was Rs 76, 285 crore for 2014-15.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
