Diesel under recovery dropped in the current fortnight to Rs 9.58/litre, lower than the level of previous fortnight Rs 10.24litre

Oil Marketing Companies effective November 1, 2013, are now incurring combined daily under-recovery of about Rs 420 croreon the sale of Diesel, PDS Kerosene and Domestic LPG. This is lower than Rs 442 crore daily under-recovery during previous fortnight effective 16.10.2013.

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas increased to US$ 107.79/per barrel (bbl) on 31.10.2013.

This is higher than the price US$ 107.38/bbl which prevailed on the previous trading day of 30.10.2013.

In rupee terms also, the crude oil price rose to Rs 6619.38 per bbl on 31.10.2013 as compared to Rs 6602.80 /bbl on 30.10.2013. This was due to price increase in dollar terms, though rupee appreciation reduced a part of the impact. Rupee-dollar exchange rate on 31.10.2013 was Rs 61.41/US$ against Rs 61.49/US$ on previous trading day of 30.10.2013.

GoodReturns.in