The under-recovery, or revenue loss, applicable on diesel for the second fortnight effective from September 16, has been rised upwards at Rs 14.50 per litre, the Union Petroleum Ministry has on on September 15. Oil marketing companies (OMCs) incurring higher daily under-recovery of Rs 486 crore daily crude oil price of Indian Basket remains steady at $110.68/bbl on last September 13.
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 September 2013.
Accordingly, the under-recovery on High Speed Diesel (HSD) applicable for 2nd fortnight of September 16 increased to Rs 14.50 per/litre. This was Rs 12.12 per litre during Ist fortnight of September 2013 w.e.f. September 1.
In the case of PDS Kerosene and Domestic LPG, under-recoveries for the month of September 2013 remain at Rs 36.83 per litre and Rs 470.38 per cylinder respectively as the price of PDS Kerosen and Domestic LPG are determined on monthly basis.