Daily Crude oil price of Indian Basket was US$ 46.88/bbl on 31.08.2015

The Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the last month of August 2015. In the case of PDS Kerosene and Domestic LPG (Cash transfer to customer under DBTL), the under-recoveries for the month of September 2015 will be Rs 11.76 per litre (Rs 14.95 per litre in last month) and Rs 141.68 (Rs. 167.18 per cylinder in last month) respectively.

Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs)

Product	Unit	Under-recoveries effective 01.09.2015 ( Previous fortnight effective 01.08.2015)
PDS Kerosene*	Rs/Litre	11.76* (14.95)
Domestic LPG	Rs/Cylinder	141.68 ** (167.18)

*Inclusive of the quantum of erstwhile Fiscal Subsidy Scheme 2002 i.e. Rs 0.82/Litre.

** Cash Subsidy is for Delhi market.

The under-recoveries for the full year 2014-15 has been Rs 72,314 crore. The figure was Rs 1,39,869 crore for full year in the 2013-14.

Regarding daily international crude oil price of Indian Basket as published today, the price was US$ 46.88 per barrel (bbl) on 31.08.2015 .Due to holiday in UK on 31.8.15,the quotes for Brent are not available therefore the prices of 28.8.15 have been considered. In rupee terms, the price of Indian Basket increased to Rs 3108.61 per bbl on 31.08.2015 as compared to Rs 3097.83 per bbl on 28.08.2015. Rupee closed weaker at Rs. 66.31 per US$ on 31.08.2015 as against Rs 66.08 per US$ on 28.8.15.

The table below gives details in this regard:

Particulars	Unit	Price on August 31, 2015 (Previous trading day i.e. 28.08.2015)	Pricing Fortnight for 01.09.2015 (August 14 to August 27, 2015)
Crude Oil (Indian Basket)	($/bbl)	46.88 (46.88)	46.03
Crude Oil (Indian Basket)	(Rs/bbl	3108.61 (3097.83)	3024.17
Exchange Rate	(Rs/$)	66.31 (66.08)	65.70