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Daily Crude oil price of Indian Basket was US$ 32.90/bbl on 31.12.2015



Daily Crude oil price of Indian Basket was US$ 32.90/bbl on 31.12.2015 


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 for the month of December 2015. In the case of PDS Kerosene, the under-recoveries for the month of January 2016 will be Rs 9.16 per litre (Rs 12.93 per litre in last month). The cash transfer to customer under DBTL will be Rs 238.17, out of which Rs. 190.51 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 47.66 will be the Cash compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers.

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

Product
Unit
Under / (Over) recovery (eff. 1stJan 16)
Cash transfer to customer under DBTL (eff. 1st Jan 16)
PDS Kerosene*
(Rs./Litre)
9.16
-
Cash Compensation on Domestic LPG by Govt. to consumers**
(Rs./Cylinder)
-
190.51
Cash Compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers**
(Rs./Cylinder)
-
47.66


*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 today, the price was US$ 32.90 per barrel (bbl) on 31.12.2015 as against US$ 33.36 per bbl on 30.12.2015. In rupee terms, the price of Indian Basket decreased to Rs 2182.09 per bbl on 31.12.2015 as compared to Rs 2215.77 per bbl on 30.12.2015. Rupee closed stronger at Rs 66.33 per US$ on 31.12.2015 as against Rs 66.42 per US$ on 30.12.2015.
The table below gives details in this regard:
Particulars    
Unit
Price on December 31, 2015 
(Previous trading day i.e. 30.12.2015)                                                                  
Pricing Fortnight for 01.01.2016
(Dec 12 to Dec 29, 2015)
Crude Oil (Indian Basket)
($/bbl)
 32.90      (33.36)
  33.58
(Rs/bbl
2182.09   (2215.77)       
2234.08
Exchange Rate
  (Rs/$)
 66.33       (66.42)         
    66.53

                               Under-Recovery 01.01.2016       


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