State-run oil marketing companies (OMCs) witnessed a sharp fall in the under-recovery on sale of diesel in the first fortnight of May to Rs 3.80 per litre from Rs 6.42 per litre during the second fortnight of April.
Similarly, these companies witnessed decline in under-recoveries on account of kerosene for public distribution system (PDS) for the month of May 2013 to Rs 27.93 per litre, and for cooking gas (domestic LPG) to Rs 378.38 per cylinder.
The above data is obtained from Petroleum Planning and Analysis Cell, which reviews international prices of crude oil and petroleum products every fortnight.
On a cumulative basis, the daily under-recovery of these OMCs – Indian Oil, Bharat Petroleum and Hindustan Petroleum – effective May 1 on the sale of diesel, PDS kerosene and domestic LPG may decline to Rs 256 crore from Rs 348 crore per day for the previous fortnight effective April 16.
On account of lower international petrol prices and a moderate appreciation of the rupee against the US dollar, Indian Oil reduced petrol price by Rs 3 per litre recently.
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