Global Crude oil price of Indian Basket was US$ 45.78 per bbl on 01.11.2016



Global Crude oil price of Indian Basket was US$ 45.78 per bbl on 01.11.2016 


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$ 45.78 per barrel (bbl) on 01.11.2016. This was lower than the price of US$ 47.26 per bbl on previous publishing day of 31.11.2016.


In rupee terms, the price of Indian Basket decreased to Rs. 3054.36 per bbl on 01.11.2016 as compared to Rs. 3159.50 per bbl on 31.10.2016. Rupee closed stronger at Rs. 66.71 per US$ on 01.11.2016 as against Rs. 66.86 per US$ on 31.10.2016. The table below gives details in this regard:

Particulars   
Unit
Price on October 31, 2016
 (Previous trading day i.e. 28.10.2016)                                                                  
Pricing Fortnight for 01.11.2016
(Oct 13, 2016 to
Oct 26, 2016)
Crude Oil (Indian Basket)
($/bbl)
 45.78              (47.26)        
   49.53
(Rs/bbl
 3054.36        (3159.50)       
3309.10
Exchange Rate
 (Rs/$)
  66.71              (66.86)
   66.81

Daily Crude Oil Price- 02.11.2016

********************
Under-recoveries for the month of November 2016 will be Rs. 12.25 per litre for 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 October 2016. In the case of PDS Kerosene, the under-recoveries with effect from November 1, 2016 will be Rs 12.25 per litre. The under-recovery was Rs. 10.50 per litre in the first fortnight of October 2016 and Rs. 10.25 in the last fortnight of the month. The cash transfer to customer under DBTL will be Rs. 98.86, out of which Rs. 70.74 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 28.12 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  Recovery (eff. 1st Nov 16)
Cash transfer to customer under DBTL(eff. 1st Nov 16)
PDS Kerosene*
(Rs./Litre)
12.25
-
Cash Compensation on Domestic LPG by Govt. to consumers**
(Rs./Cylinder)
-
70.74
Cash Compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers**
(Rs./Cylinder)
-
28.12

  
 * Under  Recovery is for Mumbai Market.
 ** Cash Subsidy is for Delhi market.
The under-recoveries/DBTL Subsidy for 2015-16 was Rs. 27,571 crore, while the figure was Rs 76, 285 crore for 2014-15.

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