Global Crude oil price of Indian Basket was US$ 36.35 per bbl on 31.03.2016


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Global Crude oil price of Indian Basket was US$ 36.35 per bbl on 31.03.2016
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$ 36.35 per barrel (bbl) on 31.03.2016. This was lower than the price of US$ 36.89 per bbl on previous publishing day of 30.03.2016.

In rupee terms, the price of Indian Basket decreased to Rs 2411.50 per bbl on 31.03.2016 as compared to Rs 2450.08 per bbl on 30.03.2016. Rupee closed stronger at Rs 66.33 per US$ on 31.03.2016 as against Rs 66.41 per US$ on 30.03.2016. The table below gives details in this regard:

Particulars     
Unit
Price on March 31, 2016 (Previous trading day i.e. 30.03.2016)                                                                  
Pricing Fortnight for 01.04.2016
(12 Mar to 29 Mar, 2016)
Crude Oil (Indian Basket)
($/bbl)
                36.35                 (36.89)         
37.29
(Rs/bbl
             2411.50            (2450.08)       
2491.72
Exchange Rate
  (Rs/$)
                66.33                 (66.41)
66.82


YKB/Rk/ Daily Crude Oil Price- 01.04.2016      

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Kerosene Free Chandigarh from April 1, 2016
From 1st April, 2016, Chandigarh will be declared kerosene free, with the efforts of the city Administration and Oil Marketing Companies. Thus, no further distribution of subsidized kerosene will be done in Chandigarh from the month of April, 2016 onwards.

The Ministry of Petroleum and Natural Gas, Government of India with the help of Chandigarh Administration has been working for the last few months to make Chandigarh ‘a Kerosene Free City’. MoPNG decided to facilitate the households presently using Kerosene Oil by facilitating switchover to LPG. In the whole process and to facilitate the kerosene beneficiaries to have LPG connections, the following steps were taken by OMCs and Chandigarh administration:

a) Camps were organized at various localities in consultation with Chandigarh administration to provide hassle free LPG connections.

b) Deposit free LPG connections were provided to BPL households and interest free loan scheme was launched for APL households.

c) IEC campaign in the form of distribution of Pamphlets and Radio Jingles was done to create awareness among the mass.

During this campaign, a total of 15,249 LPG connections were provided in Chandigarh city, including 1574 for BPL households.
Shri Dharmendra Pradhan, Minister of State (I/C) MoPNG has congratulated the people of Chandigarh for this unique achievement and thanked all the public representatives, the Chandigarh administration and the OMC officials for their untiring efforts in making this possible.  

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Under-recoveries for the month of April 2016 will be Rs 8.73 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 March 2016. In the case of PDS Kerosene, the under-recoveries for the month of April 2016 will be Rs 8.73 per litre (Rs 6.58 per litre in last month). The cash transfer to customer under DBTL will be Rs. 90.37, out of which Rs. 42.11 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 48.26 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 April 16)
Cash transfer to customer under DBTL(eff. 1st Apr 16)
PDS Kerosene*
(Rs./Litre)
8.73
-
Cash Compensation on Domestic LPG by Govt. to consumers**
(Rs./Cylinder)
-
42.11
Cash Compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers**
(Rs./Cylinder)
-
48.26


 * Inclusive of the quantum of erstwhile Fiscal Subsidy Scheme 2002 i.e. Rs 0.82/Litre. Under (Over) Recovery is for Mumbai market.
 ** 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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