Global Crude oil price of Indian Basket was US$ 31.86 per bbl on 29.02.2016



Global Crude oil price of Indian Basket was US$ 31.86 per bbl on 29.02.2016 

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 was US$ 31.86 per barrel (bbl) on 29.02.2016. This was lower than the price of US$ 32.53 per bbl on previous publishing day of 26.02.2016.

In rupee terms, the price of Indian Basket decreased to Rs 2185.97 per bbl on 29.02.2016 as compared to Rs 2237.02 per bbl on 26.02.2016. Rupee closed stronger at Rs 68.62 per US$ on 29.02.2016 as against Rs 68.78 per US$ on 26.02.2016. The table below gives details in this regard:

Particulars    
Unit
Price on February 29, 2016 
(Previous trading day i.e. 26.02.2016)                                                                  
Pricing Fortnight for 01.03.2016
(12 Feb to 25 Feb, 2016)
Crude Oil (Indian Basket)
($/bbl)
  31.86             (32.53)              
30.61
(Rs/bbl
  2185.97         (2237.02)       
2096.17
Exchange Rate
  (Rs/$)
  68.62             (68.78)
68.48


Daily Crude Oil Price- 01.03.2016      

*********
Under-recoveries for the month of March 2016 will be Rs 6.58 per litre in case of PDS Kerosene 
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 February 2016. In the case of PDS Kerosene, the under-recoveries for the month of March 2016 will be Rs 6.58 per litre (Rs 5.11 per litre in last month). The cash transfer to customer under DBTL will be Rs 94.37, out of which Rs. 46.71 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. 1st Mar 16)
Cash transfer to customer under DBTL(eff. 1st Mar 16)
PDS Kerosene*
(Rs./Litre)
6.58
-
Cash Compensation on Domestic LPG by Govt. to consumers**
(Rs./Cylinder)
-
46.71
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 2014-15 have been Rs 72,314 crore. The figure was Rs 1,39,869 crore for 2013-14.




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