The under recoveries of oil marketing companies on petroleum products, especially for diesel, have declined during this fortnight due to a slight correction in crude oil prices.
The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas, after reviewing international crude oil prices for the second fortnight of December 2012, has reduced the under-recovery figure on high speed diesel (HSD) to Rs.9.03 /litre effective January 1, 2013, as compared to Rs.9.28 per litre during the previous fortnight.
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However, the under recovery for domestic LPG for January 2013 has remained unchanged at Rs.490.50 a cylinder.
The under-recovery on public distribution system (PDS) kerosene, too, has remained at the same level of Rs.30.64 a litre for January 2013, the Petroleum Ministry said.