Crude oil price of Indian Basket declines to US$ 106.85/bbl on 13.12.2013

Rs 10.48 per/litre. This was Rs 9.99 per litre during Ist fortnight of December 2013 w.e.f. 16.11.2013. In the case of PDS Kerosene and Domestic LPG the under-recoveries for the month of December 2013 are  Rs 36.20 per litre and Rs 542.71 per cylinder respectively against under-recoveries of Rs 35.77/litre and Rs 482.41/cylinder respectively during November 2013 as announced on 2.12.2013.

Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):

Product Unit

Under-recoveries effective 16.12  2013( Previous fortnight effective 1.12 2013)

Diesel Rs./Litre 10.48              (9.99)  
PDS Kerosene* Rs./Litre 36.20            (36.20)     
Domestic LPG* Rs./Cylinder 542.71           (542.71) 

*Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs 22.58/Cylinder on Domestic LPG is provided by the Government and their refinery-gate prices are fixed on monthly basis.

Oil Marketing Companies (OMCs),   effective 16, December 2013, are now incurring combined daily under-recovery of about Rs 434 crore on the sale of Diesel, PDS Kerosene and Domestic LPG. This is a slightlly more than Rs 429 crore daily under-recoveries during previous fortnight effective 1.12.2013.

Further, the OMC’s  reported a total of Rs 60,907 crore as under-recoveries during Ist half of 2013-14 on Diesel, PDS Kerosene, Domestic LPG. Following are product-wise details of the under-recoveries:

Product Under Recovery (Rs/Crore)


(1st half)

2012-13 2011-12 2010-11
Diesel 28,266 92,061 81,192


PDS Kerosene 14,057 29,410 27,352 19,484
Domestic LPG 18,585 39,558 29,997 21,772
Petrol - - - 2,227
Total 60.907 1,61,029 1,38,541 78,190

The international crude oil price of Indian Basket as computed/published today by PPAC  fell to US$ 106.85/per barrel (bbl) on 13.12.2013. This was lower than the price of US$ 107.95/bbl which prevailed on the previous trading day of 12.12.2013. 

In rupee terms also, the crude oil price went down at to Rs 6638.59 per bbl on 13.12.2013 as compared to Rs 6651.88 /bbl on 12.12.2013. This was due to decline in price in dollar terms. The weaker rupee wiped out a part of the gains from fall in price in dollar terms. Rupee-dollar exchange rate   worsened further on 13.12.2013 to  62.13/US$ against Rs 61.62/bbl on previous trading day of 12.12.2013.

The table below gives details in this regard:

Particulars Unit

Price on  December 13, 2013

(previous trading day-12.12.2013)

Last Fortnight December 1-15, 2013

(previous fortnight November 16-30, 2013)

Crude Oil(Indian Basket)

($/bbl) 106.85        (107.95) 108.65     (108.16)
(Rs/bbl) 6638.59      (6651.88) 6712.40   (6765.41)
Exchange Rate (Rs/$) 62.13          (61.62) 61.78      (62.55)

RCJ – Under-recovery 16-12-2013

Thermal Power Plants | News published on 17/12/2013 by Moulin

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