Global Crude oil price of Indian Basket was US$ 48.10 per bbl on 03.07.2017
Global Crude oil price of Indian Basket was US$ 48.10 per bbl on 03.07.2017
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 48.10 per barrel (bbl) on 03.07.2017. This was higher than the price of US$ 46.72 per bbl on previous publishing day of 30.06.2017.
In rupee terms, the price of Indian Basket increased to Rs. 3114.44 per bbl on 03.07.2017 as compared to Rs. 3024.47 per bbl on 30.06.2017. Rupee closed weaker at Rs. 64.75 per US$ on 03.07.2017 as compared to Rs. 64.74 per US$ on 30.06.2017. The table below gives details in this regard:
Particulars
|
Unit
|
Price on July 03, 2017 Previous trading day i.e. 30.06.2017)
|
Crude Oil (Indian Basket)
|
($/bbl)
|
48.10 (46.72)
|
3114.44 (3024.47)
| ||
Exchange Rate
|
64.75 (64.74)
|
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Global Crude oil price of Indian Basket was US$ 46.72 per bbl on 30.06.2017
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.72 per barrel (bbl) on 30.06.2017. This was higher than the price of US$ 46.62 per bbl on previous publishing day of 29.06.2017.
In rupee terms, the price of Indian Basket increased to Rs. 3024.47 per bbl on 30.06.2017 as compared to Rs. 3005.46 per bbl on 29.06.2017. Rupee closed weaker at Rs. 64.74 per US$ on 30.06.2017 as compared to Rs. 64.47 per US$ on 29.06.2017. The table below gives details in this regard:
Particulars
|
Unit
|
Price on June 30, 2017 Previous trading day i.e. 29.06.2017)
|
Crude Oil (Indian Basket)
|
($/bbl)
|
46.72 (46.62)
|
3024.47 (3005.46)
| ||
Exchange Rate
|
64.74 (64.47)
|
***********
Under-recoveries for the month of July 2017 will be Rs. 6.82 per litre for PDS Kerosene
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 for the month of June 2017. In the case of PDS Kerosene, the under-recoveries with effect from July 1, 2017 will be Rs 6.82 per litre. The under-recovery was Rs. 8.86 per litre in the first fortnight of June 2017 and Rs. 8.61 in the last fortnight of the month. The cash transfer to customer under DBTL will be Rs. 86.54, out of which Rs. 58.35 will be Cash Compensation on Domestic LPG by Govt. to consumers & Rs 28.19 will be the Cash compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers.
Product-wise Under-recoveries of Public Sector Oil Marketing Companies (OMCs):
Product
|
Unit
|
Under Recovery (eff. 1st July 17)
|
Cash transfer to customer under DBTL(eff. 1st July 17)
|
PDS Kerosene*
|
(Rs./Litre)
|
6.82
|
-
|
Cash Compensation on Domestic LPG by Govt. to consumers**
|
(Rs./Cylinder)
|
-
|
58.35
|
Cash Compensation on Domestic LPG by OMCs towards ‘Uncompensated Costs’ to consumers**
|
(Rs./Cylinder)
|
-
|
28.19
|
* Under Recovery is for Mumbai Market.
** Cash Subsidy is for Delhi market.
The under-recoveries/DBTL Subsidy for 2016-17 was Rs. 19,728 crore, while the figure was Rs. 27,571 crore for 2015-16 and Rs 76, 285 crore for 2014-15.
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