New Delhi, April 16 IANS | 8 months ago

The under-recovery, or revenue loss, on diesel for the second fortnight effective April 16 has been pegged lower at Rs.5.49 per litre from Rs.5.93 during the first fortnight of the month, the petroleum ministry said Wednesday.

"In the case of PDS Kerosene and Domestic LPG the under-recoveries for the month of April 2014 remains unchanged at Rs.34.43 per litre and Rs.605.80 per cylinder respectively (as) their refinery gate prices are determined on monthly basis," the ministry added.

"Oil Marketing Companies (OMCs), effective 16, April 2014, are now incurring combined daily under-recovery of about Rs.337 crore on the sale of diesel, PDS Kerosene and domestic LPG. This is lower than Rs.342 crore daily under-recoveries during previous fortnight effective 01.04.2014," the ministry said.

The three firms had together lost Rs.1,00,632 crore on the sale of the three products in April-December, the statement said.

Since January 2013, diesel rates have risen by a cumulative Rs.8.33 per litre.

(Posted on 16-04-2014)

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