During present fiscal year, so far, MS household trading charges have been modified thrice encompassing the modification w.e.f today i.e. 04.11.11, other two modifications occurred w.e.f 15.05.11 & 16.09.11.
The last cost change on 16.09.11 was for an allowance of Rs 3.14/litre (at Delhi) which eradicated the then current decrease of Rs 2.62/litre. However, by this time Indian Oil Corporation had currently built up a decrease of Rs 1134 Crore on sale of MS in household market. During Oct’11, there was no cost change and the Corporation built up another Rs 21 Crore decrease on MS sales. Thus, the Corporation has built up a decrease of Rs 1155 Crore on MS Sales throughout Apr-Oct11.
Since the last cost change wef 16.09.11, worldwide oil charges have softened marginally. While Indian basket of crude has turned down from &110.86/bbl to $108.60/bbl, MS FOB Singapore cost has gone down from $125.18/bbl to $121.67/bbl. However, the boost in USD-INR exchange rate has been so vertical (from 46.29 on 16.09.11 to 49.40 on 01.11.11) that it has more than swabbed out the influence of decreased worldwide oil prices.
Based on the tendency of crude oil, worldwide MS charges, exchange rate, household trading charges & influence of these diverse components on decrease per unit on household sale of MS since the last cost change wef 16.09.11 to present time span, MS worldwide cost (FOB Singapore) has gone down by $3.51/bbl producing in decrease of Rs 0.97/litre. However, throughout the said time span, the USD-INR exchange rate has shown a important uptrend of Rs 3.11/USD which had a contrarian contradictory influence of Rs 2.49/litre on MS charges, producing in a snare contradictory margin of Rs 1.52/litre on household sales of MS. At this rate, OMCs would have endured added decrease of Rs 130 Crore throughout 1st Fortnight of Nov’11 had the cost boost of Rs 1.80/litre not been effected.
The last cost change on 16.09.11 was for an allowance of Rs 3.14/litre (at Delhi) which eradicated the then current decrease of Rs 2.62/litre. However, by this time Indian Oil Corporation had currently built up a decrease of Rs 1134 Crore on sale of MS in household market. During Oct’11, there was no cost change and the Corporation built up another Rs 21 Crore decrease on MS sales. Thus, the Corporation has built up a decrease of Rs 1155 Crore on MS Sales throughout Apr-Oct11.
Since the last cost change wef 16.09.11, worldwide oil charges have softened marginally. While Indian basket of crude has turned down from &110.86/bbl to $108.60/bbl, MS FOB Singapore cost has gone down from $125.18/bbl to $121.67/bbl. However, the boost in USD-INR exchange rate has been so vertical (from 46.29 on 16.09.11 to 49.40 on 01.11.11) that it has more than swabbed out the influence of decreased worldwide oil prices.
Based on the tendency of crude oil, worldwide MS charges, exchange rate, household trading charges & influence of these diverse components on decrease per unit on household sale of MS since the last cost change wef 16.09.11 to present time span, MS worldwide cost (FOB Singapore) has gone down by $3.51/bbl producing in decrease of Rs 0.97/litre. However, throughout the said time span, the USD-INR exchange rate has shown a important uptrend of Rs 3.11/USD which had a contrarian contradictory influence of Rs 2.49/litre on MS charges, producing in a snare contradictory margin of Rs 1.52/litre on household sales of MS. At this rate, OMCs would have endured added decrease of Rs 130 Crore throughout 1st Fortnight of Nov’11 had the cost boost of Rs 1.80/litre not been effected.
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