New Delhi, August 1, 2012: The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas have reviewed international prices of crude oil and petroleum products during the second fortnight of July 2012.
Accordingly, the under-recovery on HSD (High Speed Diesel) applicable for 1st fortnight of August effective 1.08.2012 increased substantially to Rs12.13 /litre. This is higher than Rs 9.95/litre prevailing during previous fortnight.
In case of PDS Kerosene also the under-recovery is higher at Rs 28.54 /litre for the month of August 2012 than Rs 27.20/litre for July 2012.
However under-recovery on Domestic LPG for August 2012, though fell to Rs 231/cylinder from Rs 319/Cylinder in July 2012, it continuous to rule at high. OMCs are currently (effective 1 August, 2012) incurring daily under-recovery of about Rs 402 crore on the sale of Diesel, PDS Kerosene and Domestic LPG.