PUNE: 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 during the Ist fortnight of November 2013.
Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2nd fortnight of November effective 16.11.2013, rose to Rs 9.69 per/litre. This was Rs 9.58 per litre during Ist fortnight of November 2013 w.e.f. 1.11.2013. In the case of PDS Kerosene and Domestic LPG, under-recoveries are computed on monthly basis which for the month of November 2013 are Rs 35.77 per litre and Rs 482.41 per cylinder respectively.
Oil Marketing Companies (OMCs), with effect from November 16, 2013, are now incurring combined daily under-recovery of about Rs 422 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is a shade more than Rs 420 crore daily under-recovery during previous fortnight effective 1.11.2013.
The international crude oil price of Indian Basket as computed/published today by PPAC increased to US$ 107.08/per barrel (bbl) on 15.11.2013. This was price US$ 106.44/bbl on the previous trading day of 14.11.2013.
In rupee terms also, the crude oil price rose to Rs 6752.46 per bbl on 15.11.2013 as compared to Rs 6712.11 /bbl on 14.11.2013. This was due to price increase in dollar terms. Rupee-dollar exchange rate on 15.11.2013 was same at Rs 63.06/US$ as on previous trading day of 14.11.2013.
