According to union oil ministry, the under-recovery incurred by oil marketing companies (OMCs) on sale of diesel at subsidised price for the second fortnight effective June 1 rose to Rs 4.87 per litre from Rs 3.73 per litre on May 16.
However, under-recoveries towards PDS kerosene and domestic LPG declined to Rs 27.75 per litre (from Rs 27.93 per litre) and Rs 335.14 per cylinder (from Rs 378.38 per cylinder), respectively, the ministry said in a statement.
Owing to depreciation of the rupee against the US dollar, state-run OMCs raised diesel price recently by 50 paise per litre, and of petrol by 75 paise.
Within a small range every month, OMCs may raise the retail selling price of diesel. OMCs, effective June 1, 2013, are incurring daily under-recovery of about Rs 276 crore on the sale of diesel, PDS kerosene and domestic LPG.
This is higher than daily under-recoveries of Rs 252 crore for the previous fortnight effective May 16.
The Indian basket crude oil price per barrel as on the last trading day – May 31 – stood at $99.34, or Rs 5,612.71 (exchange rate of Rs 56.50 to a dollar).
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