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 last month of May 2015. In the case of PDS Kerosene and Domestic LPG (Cash Subsidy under DBTL), the under-recoveries for the month of June 2015 will be Rs 20.10 per litre (Rs 16.32 per litre in last month) and Rs 208.68 (Rs. 198.18 per cylinder in last month) respectively.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs)
|Product||Unit||Under-recoveries effective 01.06.2015
( Previous fortnight effective 01.05 2015)
|PDS Kerosene*||Rs/Litre||20.10* (16.32)|
|Domestic LPG||Rs/Cylinder||208.68 ** (198.18)|
*Inclusive of the quantum of erstwhile Fiscal Subsidy Scheme 2002 i.e. Rs 0.82/Litre.
** Cash Subsidy is for Delhi market.
The under-recoveries for the full year 2014-15 has been Rs 72,314 crore. The figure was Rs 1,39,869 crore for full year in the 2013-14.
Regarding daily international crude oil price of Indian Basket as published, the price was US$ 61.84 per barrel (bbl) on 29.05.2015 as against US$ 60.89 per bbl on 28.05.2015. In rupee terms, the price of Indian Basket increased to Rs 3942.92 per bbl on 29.05.2015 as compared to Rs 3890.87 per bbl on 28.04.2015. Rupee closed stronger at Rs 63.76 per US$ on 29.05.2015 as against Rs 63.90 per US$ on 28.05.2015.
The table below gives details in this regard:
|Particulars||Unit||Price on May 29, 2015 (Previous trading day i.e. 28.05.2015)||Pricing Fortnight for 01.06.2015
(May 14 to May 27, 2015)
|Crude Oil (Indian Basket)||($/bbl)||61.84 (60.89)||63.49|
|Exchange Rate||(Rs/$)||63.76 (63.90)||63.72|