New Delhi, Mar 6 (ANI): The Petroleum Planning and Analysis Cell (PPAC) which falls under the jurisdiction of Ministry of Petroleum and Natural Gas, reviewed international prices of crude oil and petroleum products for the last fortnight of February, and has registered higher under recoveries by public sector oil marketing companies (OMCs).
The under-recoveries on domestic LPG has increased to Rs 439/cylinder effective by March 1 as against Rs 378/cylinder in February. The under-recoveries on Diesel (HSD) and kerosene continues to rule high at Rs 12.04/litre and Rs 28.54/litre respectively.
OMCs are currently incurring a daily under-recovery of about Rs 465 crore on the sale of diesel, kerosene and domestic LPG. (ANI)
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Comments:
alok
March 6, 2012 at 10:33 PM
Petrol price hike will kill transport and oil sectors as petrol consumption is only 10% of total petro products consumption and only petrol price hike cannot make a dent on loss due to under recoveries of Rs 1.5 lac crore a year on petro products due to high crude and low rupee prices. Come on policy makers be wise as there are many other right ways to reduce under recoveries .like reducing taxes, subsidizing indigenous energy sources instead of lpg/ kerosene subsidies and advertising cheaper indigenous substitutes to petro products..